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Topic: 2021 Elliott Wave - page 7. (Read 3702 times)

sr. member
Activity: 571
Merit: 284
February 10, 2021, 01:49:36 AM
#56
On a more abstract note, the iconic Elliott Wave 5-3 fractal pattern can be used on everything from price action to our lives as human beings, and everything humanity touches. Nothing goes up in a straight line and natural growth is always 3 steps forward, two steps back. Not to get woo-woo, but it's increasingly clear (at least to me) that the Elliott Wave pattern is deeply embedded in human psychology, affecting everything from who we are and how our lives unfold, to the things we touch and create.

While I'm 100% on board with Elliott Wave theory holding interpretative power, I'm not fully convinced in its predictive power, especially when the resolution gets down into the lower cycles (minor, minute, minuette, etc). At this level it seems our hard-wired pattern-seeking brains are simply trying to wring signal from noise, claiming meaning from randomness. I'm open to be convinced otherwise though.

To this day I'm still impressed with the accuracy of OP's earlier 2019 Cryptocurrency (Elliott Wave) thread. Masterful work. Glad to see the effort continues here. This thread is one of the handful of reasons I make it a point to visit this forum on a regular basis.


An interesting video you may enjoy:
https://socionomics.net/2021/02/historys-hidden-engine-a-socionomics-documentary/
sr. member
Activity: 571
Merit: 284
February 09, 2021, 08:53:09 PM
#55
What you guys think about Tone Vays idea ?

https://pbs.twimg.com/media/ErkxoQhXYAEdz2p?format=jpg&name=4096x4096

This is the old chart and his new 3rd MRI Top is near $68K

Using BLX:BNC pricing, there is a Fibonacci-based resistance zone around $61K...

Code:
$60,864  : PRIMARY[5] = PRIMARY[3] * 0.618%
JL0
full member
Activity: 817
Merit: 158
Bitcoin the Digital Gold
February 09, 2021, 06:06:42 PM
#54
What you guys think about Tone Vays idea ?



This is the old chart and his new 3rd MRI Top is near $68K
newbie
Activity: 2
Merit: 0
February 09, 2021, 05:26:02 PM
#53
On a more abstract note, the iconic Elliott Wave 5-3 fractal pattern can be used on everything from price action to our lives as human beings, and everything humanity touches. Nothing goes up in a straight line and natural growth is always 3 steps forward, two steps back. Not to get woo-woo, but it's increasingly clear (at least to me) that the Elliott Wave pattern is deeply embedded in human psychology, affecting everything from who we are and how our lives unfold, to the things we touch and create.

While I'm 100% on board with Elliott Wave theory holding interpretative power, I'm not fully convinced in its predictive power, especially when the resolution gets down into the lower cycles (minor, minute, minuette, etc). At this level it seems our hard-wired pattern-seeking brains are simply trying to wring signal from noise, claiming meaning from randomness. I'm open to be convinced otherwise though.

To this day I'm still impressed with the accuracy of OP's earlier 2019 Cryptocurrency (Elliott Wave) thread. Masterful work. Glad to see the effort continues here. This thread is one of the handful of reasons I make it a point to visit this forum on a regular basis.


I couldn't agree more. In a macro sense, the model seems to be very useful. In the short term, I think that this market confounds everyone and everything. But one thing is certain: this market cycle in particular will be most interesting to watch as there are now so many competing models and predictions as to how it will all pan out.
member
Activity: 119
Merit: 19
February 09, 2021, 11:58:39 AM
#52
On a more abstract note, the iconic Elliott Wave 5-3 fractal pattern can be used on everything from price action to our lives as human beings, and everything humanity touches. Nothing goes up in a straight line and natural growth is always 3 steps forward, two steps back. Not to get woo-woo, but it's increasingly clear (at least to me) that the Elliott Wave pattern is deeply embedded in human psychology, affecting everything from who we are and how our lives unfold, to the things we touch and create.

While I'm 100% on board with Elliott Wave theory holding interpretative power, I'm not fully convinced in its predictive power, especially when the resolution gets down into the lower cycles (minor, minute, minuette, etc). At this level it seems our hard-wired pattern-seeking brains are simply trying to wring signal from noise, claiming meaning from randomness. I'm open to be convinced otherwise though.

To this day I'm still impressed with the accuracy of OP's earlier 2019 Cryptocurrency (Elliott Wave) thread. Masterful work. Glad to see the effort continues here. This thread is one of the handful of reasons I make it a point to visit this forum on a regular basis.
sr. member
Activity: 571
Merit: 284
February 09, 2021, 08:47:45 AM
#51
So passing 50k will invalidate the flat count considering 1.681 level of wave A?
A weekly close above the 1.618 / 1.786 Fibonacci extension of wave-A invalidates the Flat pattern.
full member
Activity: 161
Merit: 175
Hello World!
February 09, 2021, 02:02:01 AM
#50
So passing 50k will invalidate the flat count considering 1.681 level of wave A?
sr. member
Activity: 571
Merit: 284
February 08, 2021, 10:18:11 PM
#49

Quote
The uptrend starting from the low of 22-JAN to present has been driven by reactional Elon Musk related events.

While true, the second Musk event was perhaps one of if not the biggest news yet in Bitcoin's history. This groundbreaking corporate endorsement could have massive follow-on effects in terms of large institutional plays (what if Apple/Amazon). I think this goes beyond any and all TA and changes the game because there is no precedent for this. Since the perception might now be that Tesla "bought in" at around 38k, would that not have a strong support element if the price should dip back down as you are suggesting in your previous posts for some time now?

Historically, there have been far more significant events; i.e. invention of automobiles, invention of flight, Roaring 1920s, Great Depression, WW2, 1987 Black Monday, DotCom Bubble, 9/11, U.S Housing Bubble, Subprime Financial Crises, Coronavirus Crash, etc and several flash crashes —neither of these events were beyond Technical Analysis and Elliott Wave.
newbie
Activity: 2
Merit: 0
February 08, 2021, 08:04:12 PM
#48

Quote
The uptrend starting from the low of 22-JAN to present has been driven by reactional Elon Musk related events.

While true, the second Musk event was perhaps one of if not the biggest news yet in Bitcoin's history. This groundbreaking corporate endorsement could have massive follow-on effects in terms of large institutional plays (what if Apple/Amazon). I think this goes beyond any and all TA and changes the game because there is no precedent for this. Since the perception might now be that Tesla "bought in" at around 38k, would that not have a strong support element if the price should dip back down as you are suggesting in your previous posts for some time now?
sr. member
Activity: 571
Merit: 284
February 08, 2021, 07:26:02 PM
#47
The uptrend starting from the low of 22-JAN to present has been driven by reactional Elon Musk related events.
Thus far, the rally appears corrective, and hence may be considered as an Irregular B-wave.
Perhaps either a bullish Expanded Flat or a bullish Running Flat is currently underway.



sr. member
Activity: 571
Merit: 284
February 07, 2021, 12:04:10 AM
#46


sr. member
Activity: 571
Merit: 284
January 29, 2021, 07:49:05 AM
#45
An alternative simple structure which has potential...

https://12345abcdewxyz.files.wordpress.com/2021/01/20210126-btcusd.png

Interesting. We've just seen the push to $34K, but will it reverse here as expected? The internals of this intraday rally do not appear impulsive, but the momentum is quite strong. Bullish engulfing candle on the daily....

Well Elon shilling seems to show us the power of the bullish engulfing Smiley
Crazy days huh... Curious of both Exstasie and Steves opinions of the huge current cande...
The monthly candle will be closing in 36 hours.

Despite the strength of the Elon Musk driven pump, the waves still appear to be corrective at this stage.

Currently thinking the rise from the low of 22-JAN to present is a B-wave —which may have the potential to exceed all-time highs, but rarely.

full member
Activity: 161
Merit: 175
Hello World!
January 29, 2021, 05:27:47 AM
#44
An alternative simple structure which has potential...



Interesting. We've just seen the push to $34K, but will it reverse here as expected? The internals of this intraday rally do not appear impulsive, but the momentum is quite strong. Bullish engulfing candle on the daily....

Well Elon shilling seems to show us the power of the bullish engulfing Smiley
Crazy days huh... Curious of both Exstasie and Steves opinions of the huge current cande...
The monthly candle will be closing in 36 hours.
legendary
Activity: 1806
Merit: 1521
January 28, 2021, 11:37:33 PM
#43
An alternative simple structure which has potential...



Interesting. We've just seen the push to $34K, but will it reverse here as expected? The internals of this intraday rally do not appear impulsive, but the momentum is quite strong. Bullish engulfing candle on the daily....
sr. member
Activity: 571
Merit: 284
January 26, 2021, 09:02:37 AM
#42
Perhaps a Wave-4 falling wedge triangle...?

Would that be valid?

At this point, the current structure seems to evade all simple patterns. I'm characterizing it as some sort of complex structure, like a triple zig zag or triple sideways (WXYXZ), depending what the next sub-wave does.

An alternative simple structure which has potential...

legendary
Activity: 1806
Merit: 1521
January 26, 2021, 03:41:29 AM
#41
Perhaps a Wave-4 falling wedge triangle...?

Would that be valid?

At this point, the current structure seems to evade all simple patterns. I'm characterizing it as some sort of complex structure, like a triple zig zag or triple sideways (WXYXZ), depending what the next sub-wave does.
sr. member
Activity: 571
Merit: 284
January 25, 2021, 10:41:50 AM
#40
Perhaps a Wave-4 falling wedge triangle...?

sr. member
Activity: 571
Merit: 284
January 22, 2021, 10:33:17 AM
#39
Thank you for your wise and informed advice.
Guesswork at best. Sometimes it works, sometimes it doesn't..!
newbie
Activity: 16
Merit: 2
January 22, 2021, 10:29:14 AM
#38
Thank you for your wise and informed advice.
sr. member
Activity: 571
Merit: 284
January 22, 2021, 10:14:42 AM
#37
Thank you for your update. What you think about Masterluc's idea ?

https://www.tradingview.com/chart/BTCUSD/gHUEkf5l-Current-daily-alarming-signals/

Too steep of a pullback. At worst, not expecting below ~26K.
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