Thank you. While I agree with you on the first two, I'm not sure about the last (keep in mind I know little about Elliott Wave). It looks to me like the 5th wave of the late 2013 bubble is smaller than the 3rd wave.  |
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5's are bigger in all the rallys throughout Bitcoins' short existence. Intraday 5's are often shorter than the 3.
Do you mind sharing some examples of such larger 5's? |
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Oh well. You seem very comfortable in what you believe you know--a dangerous trait.
Good luck to you.
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Way to ignore my question.
I addressed your question sufficiently, so accordingly, probably, you should respond to my various points if you have anything substantive to add in this direction.. . But you didn't answer it. In this thread, you've made some statements which show you don't really have a grasp of some basics--things like equating government with community, "will of the people", etc, and you've brushed aside some arguments with Fox News references. So I'm merely asking to start a civil dialogue with you. I promise to stay polite. Please respond: What is your definition of "government"? My definition can be stated in a sentence. How about you? |
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Way to ignore my question.
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Sounds like you have been watching too much fox news and the like to be so detached from reality.
What is your definition of "government"? I'm not asking for what governments should be or should do, but rather, what they are. If an alien was watching the Earth from above, how would he describe this thing humans call "government"? |
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The size of wave V is affected by the size of wave III.
The bigger the wave III the bigger the wave V? |
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 This is a widely accepted count. We cant be sure if a larger correction after wave V will be wave II or wave IV. Wave II would be absolutely phenominal. Does the length of wave iv have any bearing on the height of wave v? The current wave iv seems very long to me. |
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your being too extreme and over generalizing... show me a complex society without some community entities (otherwise known as government).
This is where you go wrong. Community != government. There's a MASSIVE difference between the two. |
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My credentials: none
Disclaimer: Anyone who listens to me deserves to lose all of their money.
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Thanks for keeping this thread--I hope you keep going. It's a great learning tool.
From my non-EW viewpoint, I agree--the action over the last 3 days is very encouraging. We could be on the cusp of the nearly year-long end of the bear market.
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Upthread I asked you why the rise to 2500 wasn't "IV", and you had some concerns, and it looks like you've changed your stance a bit. I know very little about Elliot Wave, but after nearly two decades of speculating, I've seen some of the same patterns repeat, and right now, it looks like we are in the final stages of a cyclical bear market, much like the stock markets were in during Feb 2009. Also, this drop from 2500 looks like a mini fractal of the same pattern that took us from the prior bubble peak down to 2200 and then from 4000 down to 1800. In prior cycles, 3 repetitions of the fractal pattern generally signals the end of that large movement.
The only thing I would consider differently is I wouldn't rule out a break below the recent lows at 1800 just to shake out more weak hands. Perhaps even below $260 on the US markets would cause everyone to say, "We've fallen below the penultimate bubble peak, something that's never happened before! This is the end of Bitcoin!" That would be the end of the bear market.
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Dumb question: why can't the recent peak at 2400 on Oct 13 be the top of wave "iv" instead of being "a" as you've labeled it?
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"Neoliberal" is a phony made-up word by people who want to limit others' choices. It's not a valid descriptor of anything other than, "I wish people had less say in what they do with their stuff".
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May I suggest you make a thread entitled something like "Blazin's Forecasts" and stick to that thread instead of making a new one every time a thought comes to your head?
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My wild-ass guess is 800-899. There's so much built up pessimism, it has to explode upward and surprise people.
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This is PTSD from 10 months of a grinding bear market.
It's also why the market will continue to rally.
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 I don't know much about Elliot Wave theory, but this is my count of the early history of the price of Bitcoin up through the "megabubble" which peaked in June 2011 and was followed by a monster bear market ($32--->$2). Is my count correct? If so, why is 5 so much bigger than 3 and 1? Heck 3 is the smallest. Isn't it supposed to be the biggest? To me, this looks like a typical commodity chart. Commodity bull runs typical end in blowoff tops. How does Elliot Wave account for that if wave 5 is supposed to be smaller than wave 3? |
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This is a widely accepted count. We cant be sure if a larger correction after wave V will be wave II or wave IV. Wave II would be absolutely phenominal. Ah, I think I see. So do you have a chart starting in 2010? I now see that when you talk about wave V, you're talking about the bull market that started from the depths of the 2011 bear market. So we should expect a bear market after Wave V, but in the context of the entire history of Bitcoin, there are larger waves to play out. |
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