Topic: 2019 Cryptocurrency (Elliott Wave) - page 13. (Read 7629 times)

Yes, you are very correct, this group is for speculation and speculations might not be exact but it is close to what we are looking for, I have speculated on the price couple number of times this year and I am seeing my exact prediction already coming to past and am so happy about it, not just because my prediction is coming to past but because we are starting to see a bull run in the price of crypto again.

Well we can sure identify the movement of bitcoin and other cryptocurrencies through this and by looking at the graph bitcoin really is starting to take turns now and coming back and recovering, This must be a hasty speculation for others that are thinking that Bull Run is now, But I might say we should look at some Waves to surely verify and determine the real movement of bitcoin but some say this is a principle of  identifying extremes in investor psychology and all is just an analytical speculation that the chart will form a pattern but I think this is a shot we can sure take a look on as a trader.

Complex scenario can take longer to unfold, still too many small bag holders who refuse to capitulate in this stubborn market that's already the longest bear market on record, 1000-1800 btc slide can take an entire year more and then a few months sideways before slowly building momentum h2 2020. If this scenario happens, it is possible that altcoins will undergo a parabolic paradigm flip with decentralized exchanges or atomic swaps and phasing out of centralized entities, so there is alot of money to be made in that scenario either way.

Global bottom is probably already in at 100bn back in December which is May 2017 pre tether valuation (50bn global) ~60% annualized organic growth premium over 19 months.

Simple scenario can be extended to january 2021 at 90 000 & mid 2021 up to 300 000...

Short term there may be a +20-30% btc push/+50% altcoin rally with Easter reversal around the 20th and then bearish continuation until double bottom somewhere H2.

Technically speaking, a normal wave-5 is only required to exceed the high of wave-3, albeit marginally.

Given that PRIMARY[3] wave was extended, there is a common relationship in this situation; where, PRIMARY[5] is equal to either 1 or 1.618 times the length from the low of PRIMARY[1] through to the high of PRIMARY[3] wave, projected from the low of PRIMARY[4] wave...

@22912: PRIMARY[5] = (PRIMARY[1] + PRIMARY[3]) * 1
@35127: PRIMARY[5] = (PRIMARY[1] + PRIMARY[3]) * 1.618

In theory, PRIMARY[5] could subdivide and extend like PRIMARY[3] wave; however, looking at over 100 years of Dow Jones Industrial Average Index data, this hasn't happened to waves of such degree.
 



 

This is some really interesting charts you made, Elliott Waves are good indicators to see where the bitcoins price might go in the future. But bitcoins price are also dictated of what happens outside the crypto world, new adoptions or central banks that prints even more money than before can also push the price up.

Awesome.

Great to see that your interest in Bitcoin has been rekindled.

Scebario B looks very, very unlikely to me.

Primary (Y) just surely can’t happen at this stage.

in the simple impulsive scenario, i recognize that primary wave 3 can't be the shortest wave. but does wave 5 need to be so weak? we could go well into the 6-figure range without invalidating that count.

bitcoin tends towards strong wave 5s and it's really tough to see us correcting so long only to double top. the proportions just don't seem right for that either.

elliott waves deserve to be studied in cryptos.

Thank you.Very much appreciate for charts
I have just sign to eliotwaves to learn a little
If it will works like mirror than 5200 is key level if break than we can get at 7k first stop

2019 Cryptocurrency (Elliott Wave): Bull Market…?
https://www.reddit.com/r/BitcoinMarkets/comments/b9nlzh/2019_cryptocurrency_elliott_wave_bull_market/

The 2018 cryptocurrency crash saw Bitcoin decline 85% in value, elapsing the course of 363 days —just two days shy of a complete year. The all-time high occurred on 17-DEC-2017, and a notable low occurred on 15-DEC-2018.

The bear market of 2018 unfolded in three stages:

• i. A three wave A-B-C decline, from 17-DEC-2017 high to 06-FEB-2018 low, declining 70%
• ii. A five wave A-B-C-D-E sideways rangebound triangle, from 06-FEB-2018 to 24-JUL-2018
• iii. A five wave impulsive 1-2-3-4-5 decline, from 24-JUL-2018 high to 15-DEC-2018 (06-FEB-2019 orthodox) low, declining 63%

Overall, these three stages form a complex A-B-C composite structure, as the following chart illustrates:



As each stage of the 2018 bear market unfolded, bounces became diminishing in size. The following lists notable price advances that occurred whilst price action was rangebound in a sideways triangle during the second stage:

—06-FEB to 20-FEB, a 99% advance.
—01-APR to 05-MAY, a 55% advance.
—29-JUN to 24-JUL, a 47% advance.

Subsequent bounces during the third stage of the bear market, from 24-JUL-2018 to 15-DEC-2018, have been less than 27% in size.

From the 15-DEC-2018 low, Bitcoin has thus far rebounded 70% —the second largest advance since the 2017 all-time high. In addition, although not conclusive yet, price action appears to be advancing in impulsive waves. Hence, there is a preliminary cautious opportunity to suggest a new cryptocurrency bull market may be underway.

From an Elliott Wave perspective, a new bull may likely suggest the following two abstract scenarios, 'simple' and 'complex':

Scenario A (Simple)



Scenario B (Complex)



New all-time highs would suggest a simple scenario, where five Primary degree waves complete beyond the 17-DEC-2017 high; i.e. Primary-1 completed at the 2013 high, Primary-2 completed at the 2015 low, Primary-3 completed at the 2017 high, Primary-4 completed at the 2018 low, Primary-5 currently underway.

A failure of the bull market to create new all-time highs would suggest a complex scenario. Such a scenario would propose a cyclical (i.e. short-term) bull market, in an overall ongoing deflationary secular (i.e. long-term) bear market. The 2018 low would be labelled as Primary-W, the current potential 2019 bull market as Primary-X, followed by the resumption of the secular bear market labelled as Primary-Y to break below the 2018 low. Complex composite wave structures are often behaviours of commodity and currency markets.

At present, the simple scenario has been adopted until further development of wave structure.



BITSTAMP Support Zones:
4306, 3322, 2713, 2221

BITSTAMP Resistance Zones:
5198, 5898, 6390, 6882/7026, 7491
  

 
The intention of this thread is to speculatively forecast the price of Bitcoin via subjectively using the Elliott Wave principle.

Analysis is purely guesswork with an endeavour to provide sporadic fortnightly updates.

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