The Fib extension tool is excellent in projecting the 5th intermediate wave for Bitcoin in its bull markets.
First bull market 2011-13: Using the Fib extension tool to extend from intermediate waves (2), (3) and (4) yields the 4.236 extension at $910. Bitcoin went well beyond that to top at $1177 in Nov 2013.
Second bull market 2015-17: Using the Fib...
The following are the major Elliot Waves from Bitcoin since it started trading on the exchanges in 2010. Understanding the Elliot waves for Bitcoin brings an understanding of the volatility of the market and a long term perspective. I have included the Bitcoin "log growth curves" indicator by Quantadelic since it illustrates top and bottoms for bull and bear...
Bitcoin has been in a 4th wave correction from the $64899 for several months. It looks like it may be in a 5th wave of the C wave of an ABC correction.
Bitcoin often retraces to the golden pocket, the 0.618 to 0.65 Fib correction range of the 3rd intermediate wave move from $3858 in Mar 2020 to the $64899 high.
After this 4th intermediate wave is over, then...
Shown is the monthly chart for Bitcon with all the intermediate, primary, and cycle Elliot waves.
The following are wave numbers, dates, $BLX prices, % profit/loss and $ profit loss for each wave since Bitcoin began trading on the exchanges in 2010:
Wave Date $BLX % P/L $ P/L
(0) Oct 2010 $0.01 - -
(1) Nov 2010 $0.49 4700% $0.48
(2) Dec 2020 ...
There are a few clues you can take from the "Bitcoin log growth curves" indicator by Quantadelic from past cycles that could prove useful in determining when to sell your Bitcoin at the end of this cycle.
The first time the 8th log growth curve was hit of the 10 total was 6/4/11, 4 days before the $31.60 6/8/11 top. Bitcoin hit the 8th growth curve or above from...
Quantadelic's "Bitcoin Log Growth Curves" indicator on Trading View has depicted cycle tops for Bitcoin in the past and points to certain prices in the future (BLX prices):
Low Oct 2010 $0.01
(1) Jun 2011 $31.90 3190 fold Top of the Curves
(2) Nov 2011 $2.01 -93.7% Bottom of the Curves
(3) Nov 2013 $1177.19 585.7 fold Top of the Curves
(4) Jan 2015 $163.88 -86.1%...
ZRX has retraced to the 0.786 Fib level to complete intermediate wave (4). Intermediate wave (2) also corrected to the 0.786 Fib level.
I have found that the 1st, 3rd, and 5th intermediate waves line up often. As such intermediate wave (5) projects ZRX to $7 by October.
DOGE was just listed on Coinbase Pro. A few weeks ago it was listed on Gemini.
It has gone down 71% from $0.74 to $0.21 and now is at $0.34. It looks to me the 4th intermediate wave is finished.
If you line up the 1st and 3rd intermediate tops and project it to mid October, then DOGE could hit $7 if it hits the resistance line again.
I've seen these...
It took 3 weeks after the 41% correction from $3000 to $1758 from June to July 16, 2017 for Bitcoin to recover and surpass $3000 again. Four months later it peaked at $19892 on 12/17/17.
The 53.8% correction from $64899 to this morning's low at $30000 is similar to the mid-cycle correction in 2017. It should take about 4 weeks for Bitcoin to surpass $64899...
I count a primary wave 1 for LTC in June 2019 at $146.00. Primary wave 2 ended in Mar 2020 at $25.00. Primary wave 3 ended at $335.35. Primary wave 4 ended today at $146.19. If wave 4 had gone below #146.00, then the count would have been invalidated. But the count held. Wave 5 will go well above the $413.91 recent high in the months to come.
You can see from this monthly Bitcoin chart that Bitcoin has stayed in a channel for the last 7 months. Bitcoin did this also in 2017 as it went from $1K to $20K.
If Bitcoin stays in this channel for 5 more months, then Bitcoin from the channel lower bound and upper bound would project a Bitcoin price from $230K to $380K.
The LTC to BTC ratio is finding support in the 0.00332 area just like 2017. There was a strong bounce in the ratio at this level in early 2017 and the ratio went in favor of LTC most of the rest of 2017.
LTC had a strong bounce today up almost 10% compared to BTC's 2% today. This may be the beginning of a huge move in LTC compared to BTC again just like 2017....
In June 2011, Nov 2013, and Dec 2017 Bitcoin topped at $32, $1177, and $19892 respectively. These were the tops of the last 3 bull cycles.
The golden ratio time chart theory by trading shot predicts Bitcoin will top by the end of Sep 2021. The top of the "Bitcoin log growth curves" will be about $130K by that time. Will the top be near that price in that...
The "Bitcoin log growth curves" indicator by quantadelic suggests Bitcoin could be going to $100K in the next 4 weeks.
5/9/11 Log growth curve was at 6.4 when the $BLX was $6.99. 4 weeks later the log growth curve was at the top at 10 when the $BLX topped at $31.90, a 356% move.
11/4/13 Log growth curve was at 6.4 when the $BLX was $327.56. 3 weeks later...
My Elliot Wave count shows ETH has already bottomed. It's ABC IMO has already completed. The first impulse move has occurred with a higher high and the little ABC correction down has completed forming a higher low. That's usually the beginning of a new bull trend. Get ready for ETH to pass the recent $1477 ATH soon.
Bitcoin is in a C wave of an ABC correction since the $42000 high on Jan 8th. It looks like BTC will go to about $27000 by the end of this week to finish this correction. After 30-40% corrections in 2017, BTC typically made 150% gains after in a few months. A 150% gain from $27000 would be the $65000 prediction by Max Keiser. I suspect it will get there by...