Your guess please
After the 5 of (5) of V of (V) is in. Do we see the major correction to prior wave IV $200 as per Elliot wave states
Or we get a massive sell off to .38 - .61 fib retracement ?
Thx
Your guess please
After the 5 of (5) of V of (V) is in. Do we see the major correction to prior wave IV $200 as per Elliot wave states
Or we get a massive sell off to .38 - .61 fib retracement ?
Thx
Again. Elliott Wave does not state that it goes back to wave IV level. THAT is just haejins observation in cryptos. Only in cryptos. No elliott wave rule at all!
In my opinion wave IV is not at $200, but that is debateable. Let's just say I would not be shocked to see it fall back to $6666.
not talking about Haejin , and I don't know what he thinks ...
I was just trying to get your opion is all and not advice .
I pay for a Elliot wave service and get updates frequently ..and happy with them
this is a sample of the bigger picture
also the prior wave 4 correction after 5 is a thing I thought you were aware of
pic below shows after every 5 it retraces to 4 or close to it .
"Bitcoin’s wave (V) could already be searching for its end while aproaching $12k. If that is the case, a major three-wave crash should soon follow. The anticipated (A)-(B)-(C) decline has to potential to erase all of wave (V)’s gains and drag the price of Bitcoin back to the support3 of wave (IV) near $200 per coin. The next big question is if there is anything left of wave (V), then? The daily logarithmic chart below gives us a hint. "
this is just a bigger chart and a sample , I get updates twice a week
if all the small 5 retrace to 4
then big five should retrace to big 4 witch is $200.
not saying its going there but that Is what has been happening, again I thought you were aware of this . thanks for your opinion .
I don't know what this guy is talking about. It is not an official rule as of my knowledge. I never heard or read it before heajin said it in a few videos.
I am aware of this log chart, but I think log charts are bullsh.. It is in direct conflict with the linear version. Also wave III in this log chart is small and could easily turn out to be just another wave 1 extension inside bigger wave III
I seriously doubt that this could ever happen to BTC. Now that the media is going crazy, big hedge funds and banks are just starting to pump their billions in.
A big correction is coming after the top, that is clear.
haejin showed this logchart 3 months ago...
The chart is from The site that I have a subscription to and others .
Where do you think some got the big crash idea from ?
$200 is ridiculous and I i know it -especially now .
The log chart is just showing the big picture- all the waves -
The service gives close ups weekly charts ..
I’ll keep you in the loop if you care , but looks like you know excatly what’s going on ...
i did one search and i found this
http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:guidelines_for_applying_elliott_wave_theory
In this pic wave 4 is between the 38% the 50% RT which is a frequently hit correction target. I don't get why they would illustrate a guideline of wave 4 span, when a wave 2 can retrace anything between 23 and 99.9% and the 50 and 62% RT are the MOST frequently hit targets.
But OK, I guess this is another way to combine fib ratios with support and resistance levels.
Thanks for your input .