Topic: Critical Levels - EW analysis - page 22. (Read 355126 times)

David Alcindor's count doesn't make much sense tbh.

Could be an expanding B-wave triangle if we cross the previous $318 top.

David Alcindor updated:



Here is the most BULLISH scenario I can come up with:

1 - First, it is nearly guaranted that we are in a prolong correction, hence the large, encompassing A-B-C pattern.

2 - Projection of such pattern (not in terms of Elliott Wave, but simply in terms of geometry), Wave-C projection off of Wave-B defines 363.66 as pan-ultimate top for this correction ... Near December 2015.

3 - The two most recent channels reflect R.N. Elliott channel methodology ... Hence, we just completed an Intermediate Wave-(3), whereas Intermediate Wave-(4) should be under development at this time.

4 - Based on same R. N. Elliott channel construction, the secondary channel (GREEN) points to a higher border validation at/near 363.66.

5 - Bad news is that from a total Wave, these broad sweeping correction will tend to return o the origin of Wave-A ... Interestingly, this fits the Predictive/Forecasting Model's outer most tolerable WL value = 152.72, defined this past SEP 2015.

So, as mentioned before, the only analyses are revealing at the H4 levels and above, offering a broad "bird'seye view" of what the Bitcoin trader will HAVE TO endure, not only in terms of adverse excursion if ever SHORT, but in counter-trend threat if taking a long position, especially near the current yet-to-define top.

Best,

David Alcindor

Sauce: https://www.tradingview.com/chart/BTCUSD/vTWNd0Qk-BTCUSD-bitstamp-Stomped-Mulls-Decline-bitcoin-BTC-forex/

Is the appropriate response to buy the dip?

this is it.......it is wave 5. minimum local target 1880 for the ED but medium term tgt is still the wave 4 area.... 1760 or so. ED are sharp and fast to resolve.

probably an extension of sorts happening. will have to wait for more form before we can say what's really going on.

Nice try guys, guess again.

Any chance the impulse up could've been C as red count below (or alternatively 3, if the pictured A is somehow counted as an impulse)?



Personally a bit doubtful of that as the B looks too much like an impulse down, probably some species of truncated 5.

despite the false breakdown through the primary trendline this is a more satisfying count having had a clear wave v termination.

I missed you chessnut, hope you are doing well buddy

same here. good to have you back chessnut. We missed you

Welcome back :-)

This is a significant area for a short term reversal on the 4H, with ~268~ a fair target in any case as a iv wave area.



This impulse could be 1 or A which we could use to play the move on breakdown or better w2 form.

Hi EWers

I love this thread and all the EW stuff.

Since Chessnut is laying low for a while, I'm inviting EWers who posted charts to drop their charts and conversation on https://bitcointalk.org/index.php?topic=1161207.new#new

I haven't seen a solid EW thread around on speculation (maybe I'm not looking hard enough). Would like to see EW analysis. there is a need for one.

Come roost at https://bitcointalk.org/index.php?topic=1161207.new#new

That seems correct to me. I saw him on friday on the tradewave forex chat. Guess he was busy exploiting the price moves of EURUSD.

last time you said it was a 2, and it turned out not to be.

Podyx posted on Nights watch about your count being invalidated. Is it?

Here is a chart from David Alcindor asserting move up from low $200s as wave 4 correction

my thread https://bitcointalk.org/index.php?topic=1161207.new#new

Lol, just realised that my (A) and (B) should be placed instead of A and B in my chart, but that doesn't affect the count that is currently playing out. Will update over the weekend. Feel free to check my page but I'll post the charts on here as well. I'm still a novice though, so I do make mistakes.

Sign me up for your thread!

Could we be on the upswing of the second shoulder of a head and shoulders pattern spanning most of 2015?

First shoulder peaked at about $300 in early March 2015.

Head peaked at about $312 in July 2015.

Expectation of peak of second shoulder at around $300 in November.

Updated chart from before with the latest price movements. You can also find it in the comments of the article I posted yesterday, BTCUSD Short Term Corrective Rally.