My current evaluation of the market: the bulls have shown unexpected strength on the offensive, but were unable to hold the conquered ground.
This means the seller pressure is still high, as seen in red volume, and the retracements go too deep to be consistent with an incipient bull market.
However, if the bulls manage another pump to about 500$, then a double bottom at about 275$ in late December becomes possible.
Topic: Analysis - page 225. (Read 941563 times)
So I guess my question is what changed his thinking that we were in 3 last November to we might just be starting 3?
There are 5 waves in a historical cycle.
In this context, the 3 from last November would have been the 3 of 5, so now he is thinking we are in historical 2 where 1 was in November. 5 of 5 of (1) to be more precise.
Disclaimer: The preceding post is not necessarily the view of the poster.
Elliot Wave.
It's like reading books for kids on high drugs
LOL
EW mostly work in theory and hard to match in market. 100 People draw EW will have 100 different picture result
That's the problem with EW right there, there are so many different possible counts that there's always one that matches, but it's impossible to predict which count is the right one until the future actually shows us. Maybe traders with good market intuition are able to make money using EW theory, but I'd say that's because of their intuition and not because EW itself has any predictive value.
Agree. EW is just method, which work fine on paper, but reallity is completely different.
So I guess my question is what changed his thinking that we were in 3 last November to we might just be starting 3?
There are 5 waves in a historical cycle.
In this context, the 3 from last November would have been the 3 of 5, so now he is thinking we are in historical 2 where 1 was in November. 5 of 5 of (1) to be more precise.
Disclaimer: The preceding post is not necessarily the view of the poster.
Elliot Wave.
It's like reading books for kids on high drugs
LOL
EW mostly work in theory and hard to match in market. 100 People draw EW will have 100 different picture result
That's the problem with EW right there, there are so many different possible counts that there's always one that matches, but it's impossible to predict which count is the right one until the future actually shows us. Maybe traders with good market intuition are able to make money using EW theory, but I'd say that's because of their intuition and not because EW itself has any predictive value. Perhaps EW theory should be seen as a tool to develop this market intuition. Doesn't work for everyone of course but that's why there are many different tools for many different people.
So I guess my question is what changed his thinking that we were in 3 last November to we might just be starting 3?
There are 5 waves in a historical cycle.
In this context, the 3 from last November would have been the 3 of 5, so now he is thinking we are in historical 2 where 1 was in November. 5 of 5 of (1) to be more precise.
Disclaimer: The preceding post is not necessarily the view of the poster.
Elliot Wave.
It's like reading books for kids on high drugs
LOL
EW mostly work in theory and hard to match in market. 100 People draw EW will have 100 different picture result
So I guess my question is what changed his thinking that we were in 3 last November to we might just be starting 3?
There are 5 waves in a historical cycle.
In this context, the 3 from last November would have been the 3 of 5, so now he is thinking we are in historical 2 where 1 was in November. 5 of 5 of (1) to be more precise.
Disclaimer: The preceding post is not necessarily the view of the poster.
Elliot Wave.
It's like reading books for kids on high drugs
So I guess my question is what changed his thinking that we were in 3 last November to we might just be starting 3?
There are 5 waves in a historical cycle.
In this context, the 3 from last November would have been the 3 of 5, so now he is thinking we are in historical 2 where 1 was in November. 5 of 5 of (1) to be more precise.
Disclaimer: The preceding post is not necessarily the view of the poster.
Right? It works until it doesn't anymore.
All I'm saying is he's a witty technical analysis genius.
Historical Elliott-Wave 1 was 1163; Wave 2 completed below 300 and Wave 3 will end above 1163.
ahhhhh okay thx much clearer ^^
@seleme:
So I guess my question is what changed his thinking that we were in 3 last November to we might just be starting 3?
If "historical 3" is hypothetically in the future then the term is counter intuitive. Historical typically refers to the past, not the future.
The "historical count" in EW is the highest level count that encompasses all of the history.
Does "all of the history" include the future?
No, but the count predicts what the future holds. I don't know if it is right or not. No one does. But if we did just complete "historical 2" than "historical 3" next.
question is, have we enter historical 3.
I don't have lot of clue about EW but boy, you're running me high for The Clueless one title
If "historical 3" is hypothetically in the future then the term is counter intuitive. Historical typically refers to the past, not the future.
The "historical count" in EW is the highest level count that encompasses all of the history.
Does "all of the history" include the future?
No, but the count predicts what the future holds. I don't know if it is right or not. No one does. But if we did just complete "historical 2" than "historical 3" next.
question is, have we enter historical 3.
Historical Elliott-Wave 1 was 1163; Wave 2 completed below 300 and Wave 3 will end above 1163.
If "historical 3" is hypothetically in the future then the term is counter intuitive. Historical typically refers to the past, not the future.
The "historical count" in EW is the highest level count that encompasses all of the history.
Does "all of the history" include the future?
No, but the count predicts what the future holds. I don't know if it is right or not. No one does. But if we did just complete "historical 2" than "historical 3" next.
question is, have we enter historical 3.
Interesting to go back to the beginning of this thread (even on his previous one https://bitcointalksearch.org/topic/yet-another-analyst-131065), see the charts masterluc posted & read his thoughts on the wave count as it played out last year. This one especially, lol:
Right? It works until it doesn't anymore.
Interesting to go back to the beginning of this thread (even on his previous one https://bitcointalksearch.org/topic/yet-another-analyst-131065), see the charts masterluc posted & read his thoughts on the wave count as it played out last year. This one especially, lol:
If "historical 3" is hypothetically in the future then the term is counter intuitive. Historical typically refers to the past, not the future.
The "historical count" in EW is the highest level count that encompasses all of the history.
Does "all of the history" include the future?
No, but the count predicts what the future holds. I don't know if it is right or not. No one does. But if we did just complete "historical 2" than "historical 3" next.
If "historical 3" is hypothetically in the future then the term is counter intuitive. Historical typically refers to the past, not the future.
The "historical count" in EW is the highest level count that encompasses all of the history.
Does "all of the history" include the future?
If "historical 3" is hypothetically in the future then the term is counter intuitive. Historical typically refers to the past, not the future.
The "historical count" in EW is the highest level count that encompasses all of the history.
If "historical 3" is hypothetically in the future then the term is counter intuitive. Historical typically refers to the past, not the future.
Oh my God, please make it be historical 3
i believe historical 3 must be fueled by some big bad macro news in order for it to be massively insane and reach 3-4000$.
whilst the dolla keeps on rising, i dont see it yet.
it could definitely go back to 500$ but i dont expect some major increase after that.
With bitcoin I got used to expect the unexpected.
sorry if i some how miss the nomenclature but what does "historical 3" mean?
bubble 3.
How about this? This could be pretty bearish if we break 417 down again:
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