I'm going to sound crazy attempting to explain my thoughts on this...
I have only one issue with BTC predictions and charts like these...
The size of the Bitcoin marketplace is so small and the wealth so concentrated that it can be manipulated relatively easily. I don't think the majority of the market has shifted from Bullish to Bearish even when the trend indicates that it has. I think even though the trend is down it's more accurately an indicator of the mentality of a much smaller group of people who are simply taking profits from the last period of rapid growth at a faster rate than people are able to buy. The marketplace is growing extremely quickly but it seems like every downward price movement has been started by a small series of large sell orders. The good news outweighs the bad news by orders of magnitude and the price still slides.
I think it's simply a redistribution of wealth but the bullish mentality is still strongly supported by a much greater number of people who simply didn't have the opportunity to buy at a lower price. More institutional money is needed to increase the liquidity of the marketplace so these sell-offs have less of an impact...
Topic: Elliott Wave Predictions with Charts - page 2. (Read 2900 times)
but 800 is a bit hopeful dont you think? that would be a complete retracement of the latest wave.
I think this will play out tomorrow this at time to new lows.
However, so far we have had five down days in a row. thats a record. maybe today will close up
The 800 target is only if the C=A. C only needs to be 61.8% of A to be considered valid, so that makes for a lower target too. In the case that a full 5 waves down is complete (making a wave-1 of C), wave-2 can retrace up to 100% of wave-1 (typically 61.8%).
Quote
not to mention, look at btce, wave B has already passed the extreme. I think a broken wedge situation is more likely in that case. perhaps it will continue trending towards 600 for now.
I did not look at BTC-e, but I have been told that it has a similar formation to Gox in that the B makes a new LL (Lower Low). Gox has a potential running flat correction going on, and looks more like a 4 which leads me to believe that Stamp would also be in a 4th. Again, I simply used an A=C for the possible target.
not to mention, look at btce, wave B has already passed the extreme. I think a broken wedge situation is more likely in that case. perhaps it will continue trending towards 600 for now.
Here is a stamp chart
With the lack of new lows in the last push, I think either the iv of 1 is yet incomplete, or the 1 of C is complete and we are in the 2. Either way, there are divergences and a few oversold conditions that need to be neutralized before we can continue down, so a pullback is expected.
An A=C situation puts the target near 800. This is more of the case where a full impulse is complete.
If we are in a 4, expect lower targets than stated above. As we head into the 5th creating more divergences, we will get the more dramatic pullback.
With the lack of new lows in the last push, I think either the iv of 1 is yet incomplete, or the 1 of C is complete and we are in the 2. Either way, there are divergences and a few oversold conditions that need to be neutralized before we can continue down, so a pullback is expected.
An A=C situation puts the target near 800. This is more of the case where a full impulse is complete.
If we are in a 4, expect lower targets than stated above. As we head into the 5th creating more divergences, we will get the more dramatic pullback.
nice one.
but 800 is a bit hopeful dont you think? that would be a complete retracement of the latest wave.
I think this will play out tomorrow this at time to new lows.
However, so far we have had five down days in a row. thats a record. maybe today will close up.
Here is a stamp chart
With the lack of new lows in the last push, I think either the iv of 1 is yet incomplete, or the 1 of C is complete and we are in the 2. Either way, there are divergences and a few oversold conditions that need to be neutralized before we can continue down, so a pullback is expected.
An A=C situation puts the target near 800. This is more of the case where a full impulse is complete.
If we are in a 4, expect lower targets than stated above. As we head into the 5th creating more divergences, we will get the more dramatic pullback.
With the lack of new lows in the last push, I think either the iv of 1 is yet incomplete, or the 1 of C is complete and we are in the 2. Either way, there are divergences and a few oversold conditions that need to be neutralized before we can continue down, so a pullback is expected.
An A=C situation puts the target near 800. This is more of the case where a full impulse is complete.
If we are in a 4, expect lower targets than stated above. As we head into the 5th creating more divergences, we will get the more dramatic pullback.
Gox Charts...
FAIL!!!!
FAIL!!!!
Interesting charts.
THER IS NO CRASH
go away. who said it was a crash.
THER IS NO CRASH
we have a triangle for wave four there. it is not necessary to fit this into a five wave pattern as it is apart of a correction. if the triangle is in the form of B wave, then there may be a third wave following that could take us down to 520.
see what happened in december 16-20. we may see that again.
see what happened in december 16-20. we may see that again.
Good work. Thanks
I´m going to use some of these for my mid-term short stops.
I´m going to use some of these for my mid-term short stops.
Post Elliott wave counts and predictions for the short, medium or long term.
Please include charts and short description.
Please, NO Elliott Wave bashing. Leave that for another thread.
Here is my thoughts:
Long Term.
Gox (sorry I was using Gox when I made this) Shown in Log Scale. The targets are not meant to be accurate, but just to show a count for "the big picture".
https://i.imgur.com/PMPxiTw.png
Medium Term.
Gox. Again, the target is not to be completely accurate, just to demonstrate that we are on wave C. Although, the target in this picture is a 100% copy of the length of wave A, which is a common target for C waves.
https://i.imgur.com/GL25tdu.png
Short Term.
Bitstamp. Here are my targets for the current wave we are on in wave C. These targets are based on common ratios for wave 5's. I also anticipate an extended wave 5, as its common when emotions get high with Bitcoin, and I feel like that will happen.
https://i.imgur.com/RWJFI95.png
Some of these targets also match previous support levels:
https://i.imgur.com/eLF2pHw.png
Here are links to the trading view chart above to follow LIVE
Stamp: https://www.tradingview.com/v/vYcIu4uA/
Gox: https://www.tradingview.com/v/Yy9UKJdV/
Edit: Spelling
Please include charts and short description.
Please, NO Elliott Wave bashing. Leave that for another thread.
Here is my thoughts:
Long Term.
Gox (sorry I was using Gox when I made this) Shown in Log Scale. The targets are not meant to be accurate, but just to show a count for "the big picture".
https://i.imgur.com/PMPxiTw.png
Medium Term.
Gox. Again, the target is not to be completely accurate, just to demonstrate that we are on wave C. Although, the target in this picture is a 100% copy of the length of wave A, which is a common target for C waves.
https://i.imgur.com/GL25tdu.png
Short Term.
Bitstamp. Here are my targets for the current wave we are on in wave C. These targets are based on common ratios for wave 5's. I also anticipate an extended wave 5, as its common when emotions get high with Bitcoin, and I feel like that will happen.
https://i.imgur.com/RWJFI95.png
Some of these targets also match previous support levels:
https://i.imgur.com/eLF2pHw.png
Here are links to the trading view chart above to follow LIVE
Stamp: https://www.tradingview.com/v/vYcIu4uA/
Gox: https://www.tradingview.com/v/Yy9UKJdV/
Edit: Spelling
Jump to: