Topic: 2021 Elliott Wave - page 2. (Read 3712 times)
Do you think we are still in the first wave of MINOR 3 or do we have to wait for a correction to find out more?
When the rise stops, if we are still in the first wave, how much would be the minimum correction of the second wave? 23.6%?
Thanks!
When the rise stops, if we are still in the first wave, how much would be the minimum correction of the second wave? 23.6%?
Thanks!
It's funny, with Binance BTCUSDT prices, it turns out to be 91k, if I haven't miscalculated it. It's too much difference.
At 106k, what I get is x2:
MINOR 3 = 2 x MINOR 1 ---> 106k$
MINOR 3 = 1.618 x MINOR 1 ---> 91k$
At 106k, what I get is x2:
MINOR 3 = 2 x MINOR 1 ---> 106k$
MINOR 3 = 1.618 x MINOR 1 ---> 91k$
Do you think we are still in the first wave of MINOR 3 or do we have to wait for a correction to find out more?
When the rise stops, if we are still in the first wave, how much would be the minimum correction of the second wave? 23.6%?
Thanks!
I will have done something wrong, I will review it.
It's funny, with Binance BTCUSDT prices, it turns out to be 91k, if I haven't miscalculated it. It's too much difference.
At 106k, what I get is x2:
MINOR 3 = 2 x MINOR 1 ---> 106k$
MINOR 3 = 1.618 x MINOR 1 ---> 91k$
At 106k, what I get is x2:
MINOR 3 = 2 x MINOR 1 ---> 106k$
MINOR 3 = 1.618 x MINOR 1 ---> 91k$
this MINOR 3 wave, if it is underway, could be strong, and rise quite a bit with almost no corrections.
Have you calculated projections for this MINOR 3 based on the size of the 1? MINOR3=MINOR1, MINOR3=1.618(MINOR1), ...
Have you calculated projections for this MINOR 3 based on the size of the 1? MINOR3=MINOR1, MINOR3=1.618(MINOR1), ...
The initial expectation for MINOR 3 is as follows, using COINBASE pricing...
Code:
$106,059 : MINOR 3 = MINOR 1 * 1.618
It's funny, with Binance BTCUSDT prices, it turns out to be 91k, if I haven't miscalculated it. It's too much difference.
At 106k, what I get is x2:
Quote
MINOR 3 = 2 x MINOR 1 ---> 106k$
MINOR 3 = 1.618 x MINOR 1 ---> 91k$
MINOR 3 = 1.618 x MINOR 1 ---> 91k$
this MINOR 3 wave, if it is underway, could be strong, and rise quite a bit with almost no corrections.
Have you calculated projections for this MINOR 3 based on the size of the 1? MINOR3=MINOR1, MINOR3=1.618(MINOR1), ...
Have you calculated projections for this MINOR 3 based on the size of the 1? MINOR3=MINOR1, MINOR3=1.618(MINOR1), ...
The initial expectation for MINOR 3 is as follows, using COINBASE pricing...
Code:
$106,059 : MINOR 3 = MINOR 1 * 1.618
this MINOR 3 wave, if it is underway, could be strong, and rise quite a bit with almost no corrections.
Have you calculated projections for this MINOR 3 based on the size of the 1? MINOR3=MINOR1, MINOR3=1.618(MINOR1), ...
I was going to comment that we could be close to seeing that MINOR 3 confirmed, but I see that it is necessary to wait for the closing, even weekly, it is not worth just exceeding the maximum of September 18 in intraday.
Yes, a weekly close above the 18-SEP high would favour the bulls to suggest MINOR 3 uptrend is underway —although it does appear to be already underway given the strong daily candle.
You see the possibility that MINOR 2 has one wave down, that is, a movement of 5 waves. In other words, when do we consider MINOR 3 confirmed? could it be topping last week's high?
Yes, that's possible.
A daily or weekly close above the 18-SEP high ought to suggest MINOR 3 uptrend is underway.
I was going to comment that we could be close to seeing that MINOR 3 confirmed, but I see that it is necessary to wait for the closing, even weekly, it is not worth just exceeding the maximum of September 18 in intraday.
You see the possibility that MINOR 2 has one wave down, that is, a movement of 5 waves. In other words, when do we consider MINOR 3 confirmed? could it be topping last week's high?
Yes, that's possible.
A daily or weekly close above the 18-SEP high ought to suggest MINOR 3 uptrend is underway.
You see the possibility that MINOR 2 has one wave down, that is, a movement of 5 waves. In other words, when do we consider MINOR 3 confirmed? could it be topping last week's high?
If however MINOR 2 pullback is still progressing, then not expecting a move below the 50% Fibonacci retracement of the prior uptrend, which is around the $41,000 zone.
I suppose we have some margin for that 41k $ maximum retracement, or do we have to recalculate?Yes, there is always margin —exact science, is not an exact science!
So far, the last two daily candles have close and open prices around the 50% Fibonacci retracement of MINOR 1 wave, which is around the $41,000 support zone...
If however MINOR 2 pullback is still progressing, then not expecting a move below the 50% Fibonacci retracement of the prior uptrend, which is around the $41,000 zone.
I suppose we have some margin for that 41k $ maximum retracement, or do we have to recalculate?
I see that you are inclined to think that the movement that BTC has had for 4 days is an accumulation, not a distribution. And it will end up breaking overhead, once that MINOR 2 ends.
Have you checked the movement on a smaller scale to know when that MINOR 2 has finished?
Have you checked the movement on a smaller scale to know when that MINOR 2 has finished?
Its possible MINOR 2 pullback is now already complete —i.e. it has met the minimum expected pullback criteria of around a 38.2% Fibonacci retracement of the prior uptrend.
If however MINOR 2 pullback is still progressing, then not expecting a move below the 50% Fibonacci retracement of the prior uptrend, which is around the $41,000 zone.
A daily close above the 09-SEP high of around $47,400 may confirm MINOR 3 uptrend is underway.
47400$, very thanks!
I believe that the conditions are in place for it to be sufficient downward, that is, everything seems to indicate that it has been a rapid fall to throw out some leveraged longs, and from the low of that fall, build a lateral accumulation movement for the next rise .
I see that you are inclined to think that the movement that BTC has had for 4 days is an accumulation, not a distribution. And it will end up breaking overhead, once that MINOR 2 ends.
Have you checked the movement on a smaller scale to know when that MINOR 2 has finished?
Have you checked the movement on a smaller scale to know when that MINOR 2 has finished?
Its possible MINOR 2 pullback is now already complete —i.e. it has met the minimum expected pullback criteria of around a 38.2% Fibonacci retracement of the prior uptrend.
If however MINOR 2 pullback is still progressing, then not expecting a move below the 50% Fibonacci retracement of the prior uptrend, which is around the $41,000 zone.
A daily close above the 09-SEP high of around $47,400 may confirm MINOR 3 uptrend is underway.
I see that you are inclined to think that the movement that BTC has had for 4 days is an accumulation, not a distribution. And it will end up breaking overhead, once that MINOR 2 ends.
Have you checked the movement on a smaller scale to know when that MINOR 2 has finished?
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