Thanks for pointing out the missing data Rynindaclem. What charting service is that you are using?
BitcoinWisdom it seems
Topic: CryptoWaves - Elliott Wave Analysis Blog - page 15. (Read 29200 times)
BitcoinWisdom it seems
Thanks for pointing out the missing data Rynindaclem. What charting service is that you are using?
Since price held $475, I am still looking for wave iii to complete in the $560 area. The negative divergence on the 15 minute chart noted in my post last night foretold the short term drop nicely.
Since price held $475, I am still looking for wave iii to complete in the $560 area. The negative divergence on the 15 minute chart noted in my post last night foretold the short term drop nicely.
I'm more and more convinced that there will be the 5th wave, because we are still sitting at ~510, right on the latest broken resistance (which is now support) and StochRSI on 4h and 1h are going to become oversold already.
Don't you think there are too many extensions for wave 3? I incline to the count where it's divided between waves 3 and 5, especially because fifth forms ending diagonal.
Also, if it drops below 470 it still plays as wave II unless it crosses end of wave I. This is where we have to start worrying.
Looked up Elliott Wave Oscillator. So it's simply difference between 5 and 35. I don't trust it much. It also shows 3 waves up and 5 waves down in the beginning of this particular example during the clear uptrend...
Also, if it drops below 470 it still plays as wave II unless it crosses end of wave I. This is where we have to start worrying.
Looked up Elliott Wave Oscillator. So it's simply difference between 5 and 35. I don't trust it much. It also shows 3 waves up and 5 waves down in the beginning of this particular example during the clear uptrend...
That first down is the divergence signaling the 5th of I. So there are actually 3down. Same with the extended III. Divergence at the top
The way to use it is like this:
4th wave returns to zero. Scale is on the left
3/5 divergence as a MACD is used to find divergences.
Both are are present
As always, time frame changes depending on the degree you are counting
Don't you think there are too many extensions for wave 3? I incline to the count where it's divided between waves 3 and 5, especially because fifth forms ending diagonal.
Also, if it drops below 470 it still plays as wave II unless it crosses end of wave I. This is where we have to start worrying.
Looked up Elliott Wave Oscillator. So it's simply difference between 5 and 35. I don't trust it much. It also shows 3 waves up and 5 waves down in the beginning of this particular example during the clear uptrend...
Also, if it drops below 470 it still plays as wave II unless it crosses end of wave I. This is where we have to start worrying.
Looked up Elliott Wave Oscillator. So it's simply difference between 5 and 35. I don't trust it much. It also shows 3 waves up and 5 waves down in the beginning of this particular example during the clear uptrend...
Indeed, 5 waves are complete. It is also unknown if it's a 3 or C, but a completed larger degree wave-1 it is not.
I still like this pair of counts. The green line is the Elliott Wave Oscillator... look it up and recheck my chart.
I still like this pair of counts. The green line is the Elliott Wave Oscillator... look it up and recheck my chart.
but the waves do not overlap, so it is ambiguous. it may be a wave iii and impulse and have diagonal features.
Wave 4 does not overlap wave 1. I am talking about wave 2 (which is A-B-C zigzag on my chart). It could not move below wave 1 start, but it may retrace it almost completely.
Also seems like we got triangle forming.
but the waves do not overlap, so it is ambiguous. it may be a wave iii and impulse and have diagonal features.
This 5-wave sequence may be wave 1. In this case correction (wave 2) is possible to reach previous low of 340 or slightly higher.
Let's watch how the corrective zigzag wave unfolds.
P.S. What's for this being end of wave 3 - according to the rules, it always subdivides into an impulse, never a diagonal. So it's more likely we have completed major wave 1.
Let's watch how the corrective zigzag wave unfolds.
P.S. What's for this being end of wave 3 - according to the rules, it always subdivides into an impulse, never a diagonal. So it's more likely we have completed major wave 1.
well I think that this is the end of wave three, but not yet the primary. I just dont see a wave iv yet.
In this case, the biggest test of support we can face now is 439 - wave i overlap, and 387 (H&S + end of price history before extremes)
In this case, the biggest test of support we can face now is 439 - wave i overlap, and 387 (H&S + end of price history before extremes)
I see.... deep correction possible aye.
any thoughts on this?
yes, it's compatible with my EMAs.
Light-green line (15-day EMA) usually provides strong support when we are above it.
Also 10-day EMA (red line), 300-day EMA (at $464, I don't know how to call this color in English
) and $474 level based on previous crashes and Gann's Square of 9 - they are all together give us the strongest support. If we break them - the downtrend will continue.
Light-green line (15-day EMA) usually provides strong support when we are above it.
Also 10-day EMA (red line), 300-day EMA (at $464, I don't know how to call this color in English
) and $474 level based on previous crashes and Gann's Square of 9 - they are all together give us the strongest support. If we break them - the downtrend will continue.
interesting the EMAs....
I dont really care if this is v/III or iii/III. Im going to look for consolidation for about a day or two, then wave V will take to to 580, 620, who knows. but probably less than 800
critical levels are 483 and 450. if it passes 450, that fucks things up a bit.
I dont really care if this is v/III or iii/III. Im going to look for consolidation for about a day or two, then wave V will take to to 580, 620, who knows. but probably less than 800
critical levels are 483 and 450. if it passes 450, that fucks things up a bit.
yah I noticed something was wrong.....
so I think we just saw wave iv of III of the primary wave, hitting a bottom in that little wedge. super good support. we should top off wave III at maybe 550-560.
so I think we just saw wave iv of III of the primary wave, hitting a bottom in that little wedge. super good support. we should top off wave III at maybe 550-560.
Look at how we are passing EMAs step by step
yah I noticed something was wrong.....
so I think we just saw wave iv of III of the primary wave, hitting a bottom in that little wedge. super good support. we should top off wave III at maybe 550-560.
so I think we just saw wave iv of III of the primary wave, hitting a bottom in that little wedge. super good support. we should top off wave III at maybe 550-560.
Just to point something out for those of you using tradingview. It is missing 2 days of data. The 12th and the 13th.
For comparison, here is a 1hr chart. The boxed area is not included on tradingview at the time of writing.
For comparison, here is a 1hr chart. The boxed area is not included on tradingview at the time of writing.
OMG. Thanks!
Just to point something out for those of you using tradingview. It is missing 2 days of data. The 12th and the 13th.
For comparison, here is a 1hr chart. The boxed area is not included on tradingview at the time of writing.
For comparison, here is a 1hr chart. The boxed area is not included on tradingview at the time of writing.
Jump to: