Topic: 2018 Cryptocurrency Crash (Elliott Wave) - page 12. (Read 26030 times)

That assumption is making both of look like ignorants, than educated people (well I wouldn't have guessed, as well, as 80% of this forum is like this)
OP is speculating ups and downs of crypto.
He is a speculant, and take advatange of both ways in it.

And you?

So I guess OP has no cryptos, is invested in Gold and making a stunning 1% a year. Cryptos are bad and you will always lose. We got it. Go and invest in stuff that's under control of governments.

In my own understanding this bitcoin technology will not go with those graphical analysis as this has his own path. You can predict and forecast a typhoon coming but not bitcoin price. This is purely speculative and subject to those news and happenings around the crypto world plus to add those investors mood and emotions if they want to sell or buy bitcoin.

This is one of the finest FUDs i've seen a while ago but i think this will also be the FUD that will fail again like many other FUDs i've seen around too. If this will happen, then fine but sad to say bitcoin and these altcoins are done already. They will always come back and even break it's previous record as far as market cap and price are concerned.

"If it has done 2-3 times the same thing, and this was in bull market, that's obvious that in bear market, we will do the same" - right? 

Great call.  Xxx again at it

Sell In May And Go Away

Bitcoin has now retraced and declined a Fibonacci 50% of the April Fools' rally from the 01-APR-2018 low to 05-MAY-2018 high.

16 days of gains erased in 6 days: the markets take the stairs up and the elevator down.

The first leg of the decline unfolded in seven waves dropping 10%.

The second leg of the decline thus far has been a single relentless wave dropping over $1000 over the course of a day and half.
Persistence of selling has been attributed to a police raid of UPbit—South Korea’s largest crypto platform.

In regards to wave relationships, the second leg of the decline has thus far been a Fibonacci 1.236% extension of the first.

RSI on the 4-hr is now oversold as can be, dipping below a reading of 20. Barring any wave subdivisions, there appear to be enough waves to suggest a temporal bounce.

The decline from the 05-MAY-2018 high to 12-MAY-2018 low may bounce with the following targets (BITSTAMP):

@8875: 38.2% Fibonacci retracement of 05-MAY-2018 high to 12-MAY-2018 low.
@9080: 50% Fibonacci retracement of 05-MAY-2018 high to 12-MAY-2018 low.
@9140: 23.6% Fibonacci retracement of 01-APR-2018 low to 05-MAY-2018 high
@9285: 61.8% Fibonacci retracement of 05-MAY-2018 high to 12-MAY-2018 low.

9110 (BITSTAMP) is the average of the second and third aforementioned confluence levels.

Should a bounce be underway, it may offer an opportunity to get near as possible to the psychological 10,000 level again to offload HODL positions either at profit or loss.

From then on, the Sell In May And Go Away decline is expected to resume and retrace at least 78.6% of the April Fools' rally to 7245 (BITSTAMP) at a minimum.

Speculative and guesswork roadmap as follows:

We have seen nice drop almost idea according to chart by @xxxx123abcxxxx.
So now max 9500-9600 bounce and more drop, should occur, per this chart.

BTW. - "FUD" is an idiotic acronym for people, which can't handle reality. They want to swim,
in their childhood playdreams, so they are attaching every negative/not positive information,
whenever it's true or false, as something, which is by their opinion, "FUD". It's really childish,
and I'm terified, that people from exchanges and projects are really using it.

It became a meme, but people seems to not understand it, because it's overused, and often
improperly to right accusation, and fair on-point critique.

So what makes 3000-4000 $ the 'final objectives'? And why does this indicate Elliot?

I'm not good at drawing graphs like the author's thread, which I really admire, but identifying exactly the sequence and order of the elliot waves is extremely complicated, if not impossible, and you only understand it later when you go to see what the market has done.

We are about to enter a period that has always been favorable to the growth and increase of the encrypted market since it was born, May-June.

Elliot's waves show us the seasonality, the rhythm and the repetition of certain cycles, which are repeated over time; Fibonacci shows us retracements and recoveries of these cycles.
Together they are a fundamental tool for the trader, and the study of the market.

For these reasons, I believe that Bitcoin after a short break and a few days drop, perhaps around $ 9,000, can start to rise to $ 12,000-13,000 (50% of the recovery between the $ 20,000 and $ 6,000 minimum); after this recovery perhaps a new heavy correction towards the final objectives of 3000-4000 $, which indicates Elliot.

Haha. So it is.

Charts are indicative of price and structure, not time. LTC $20 by 3Q2019 estimation.

"Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy!" —Charlie Lee, 11 Dec 2017.
 

It's LTC. Not BTC

Let me see if I understand you correctly. You seem to be indicating that -- given the data available to you today -- your best current projection for the price of one BTC come August is less than twenty-five dollars American?

2018 Cryptocurrency Crash (Elliott Wave): Ten Thousand Tease
https://redd.it/8hdhjn

Since the 01-APR-2018 low, the Bitcoin market has now rallied an impressive 55% and, at the time of writing came within $10 of hitting the psychological $10,000 mark, $9990 on Bitfinex.

Quite a tease, but thus far, Fare Thee Well Ten Thousand remains! #10kNeverAgain https://redd.it/842ssd

An overall Symmetrical Triangle formation since the 06-FEB-2018 low still appears to remain in play unless 11700 (Bitfinex) is exceeded; structure as follows:



—wave-a: Rallied 95% from the 06-FEB to 05-MAR, retracing a 50% Fibonacci of the downtrend wave that began on 06-JAN.

—wave-b: Declined 45% from 05-MAR to 01-APR, retracing a 95% of wave-a.

—wave-c: Rallied 55% from 01-APR to thus far with upside targets as follows (Bitfinex):
1. @9740: 61.8% Fibonacci retracement of wave-b.
2. @9946: 50% Fibonacci retracement of entire Bitcoin market.
3. @10571-10640: 78.6% Fibonacci retracement of wave-b.

The first target has been exceeded, the second target has been met with an additional 44 points thus far; since then, the market appears to have found weakness.  

Price/RSI negative divergences are appearing on multiple hour timeframes suggesting the rally is being superficially driven simply to hit the psychological 10000 mark:



Exceeding the psychological 10000 mark would clear the price/RSI negative divergences and drive price towards the third aforementioned target zone.

At this point in time, taking out 9736 would indicate weakening upside momentum —a short position there would pose a 2.55% risk with a stop at 9990.

Should wave-c be complete at time of writing, it would suggest the entire Symmetrical Triangle forms beneath the psychological 10000 level.

There are two further waves required to complete the Symmetrical Triangle pattern. Given the converging price action trendlines of the triangle, the following are projections for the two outstanding legs:

—wave-d: Expected to decline and retrace at least a Fibonacci 78.6% of wave-c towards 7200. Converging trendlines of the Symmetrical Triangle would suggest a 30% decline to approx 6750.

—wave-e: The final leg of the Symmetrical Triangle pattern, and the shortest. Expected to retrace between a Fibonacci 61.8% to 78.6% of wave-d, rallying approx 35% towards 8750 to 9250.

The converging trendlines suggest the Symmetrical Triangle pattern ought to complete in Jun. At which point, the bear market is expected to resume towards 4257 which marks a Fibonacci 78.6% retracement of the entire Bitcoin market.

Looking at the overall market, it appears many popular cryptocurrencies have rallied into key Fibonacci resistance areas. For example, LTC has now retraced a Fibonacci 50% of the decline from 20-FEB-2018 to 01-APR-2018.

Speculative and guesswork Elliott Wave model indicative of price and structure not time, as follows:





 

Sell In May And Go Away?

Price/RSI divergences on the daily too, so quite dubious of the rally at the moment, lets see if the daily can close above 9680 (Bitfinex).
Currently, taking out 9630 would indicate weakening upside momentum.

right. so you're telling me that a wave 2 which took two years time and a wave 4 which took 1 weeks time are proportional? they occur at the same degree? that's a bit hard to believe.

and the rule of alternation is not a hard rule. it's a guideline. it's no reason to force counts.


that is not proper negative divergence. you're ignoring the middle peak. i used to try to paint bear divergences like that years ago, and i recall being punished for it a lot.

Well I guess stop is now taken away.
Trends are down, but we are going up. What a surprise. Nothing really matter other than sweet pump. Info, no info, news, no news, nothing matter apart from pumping out it hard.