wave 1 is 46.53 points long (516.53-470)... so a normal wave 3 would be 161.8% of that which give us a target of 46.53 * 1.618 + 490 (wave 2 low) = 565.2 (minimum target for 3) however, wave 3 will most likely be extended ....my guess would be ...

Bitcoin technical analysis

thanks? ever since i was convinced this is a giant wave 4 triangle...... counting from the end of wave d. my count had never been invalidated along the way so i see no reason not to believe this is not an impulse wave.

Bitcoin technical analysis

image

Bitcoin technical analysis

thanks for your comments and consideration. i believe anyone using btc-e to count waves will be at a disadvatage. it's like using futures chart instead of the s&p cash chart. often there are spikes from wave 4 into wave 1 territory on leveraged ...

Bitcoin technical analysis

i guess i have to teach everyone how to draw a line (joking!) in a triangle locate where the b wave and d wave are.......... join them together and extend line downwards... look for anything popping out of this line (breakout) i drew this line in ...

Bitcoin technical analysis

makes sens good night LL&everyone... going to sleep

Bitcoin technical analysis

the more opinions the better so we can try to understand what the market is doing. if you could show how market is going to 388 that would be great. i just can't picture it in my head or with labels.... i don't understand how venzen and others? ...

Bitcoin technical analysis

ok this is wave 1 of 5.... note how the market is back to natural support level (wave 4 of lesser degree) forget my previous chart! this looks more reasonable image

Bitcoin technical analysis

no, i do not use any indicators at all. just try to label waves. i even switch off the moving average stuff (sorry chonchy)

Bitcoin technical analysis

ewpredictions style (probably doing it all wrong...) image

Bitcoin technical analysis

i know of elliottwavepredictions. he is very excellent elliotician. i mostly try to think like him but often fail . i've seen his work and it is precision work. this is where i got the idea on how to spot wave 3 using macd. i think he is the ...

Bitcoin technical analysis

venzen, did you have to tell the whole world about the july date . it's supposed to be our secret! nice article (didn't read it all yet.. slow reader! and slow comprehender)... venzen, you forgot to give us credit! LL & emptymind give ...

Bitcoin technical analysis

hello LL, i don't know which guide/book you are reading but my internet guide says: "Wave 1 is the longest wave and wave 5 the shortest." anyway, great work on your charts....... i didn't realise your wave 5 drop below 3 (on your 3rd chart)... btc-e ...

Bitcoin technical analysis

i just invented a new elliott wave pattern. the expanding impulse wave. image

Bitcoin technical analysis

i posted this on page 142......... impulse waves do not need to channel..... yes traditionally should but look at the c wave part of the e wave. look how ugly it is. yet it still works. image

Bitcoin technical analysis

LL please make sure wave 1 is the longest wave in your first chart if you are looking at it as a diagonal. that's what i read in the guide

Bitcoin technical analysis

i connect the b and d waves to draw the trend line elliott wave style.......... because the extreme ends do count. that's where the wave ends

Bitcoin technical analysis

interesting! 2 confirmed bulls vs sea of bears... i wonder which side market will take?

Bitcoin technical analysis

wake up people... market is not going to show you a neon sign flashing with the word "BUY BUY BUY"... massive downtrend line breakout and people still expecting the same trend to resume?!? new trend confirmed by old school method new trend ...

Bitcoin technical analysis

i don't know why would anyone sell after a breakout from downtrend. this is a buy signal and its great to buy on retest of this line

Bitcoin technical analysis