Nights Watch by Afrikoin

[york780]

if your grandma came to you today saying she wanted to go in on bitcoin. 25% of her retirement savings

would you advise her to buy?

or wait?

Buy everything so that the price moves up and I can dump my stash ^^

[Kramerc]

this rise is not like tha last rise to $1350. something is off about this one

You are off

[Afrikoin]

this rise is not like tha last rise to $1350. something is off about this one

You are off

Maybe.
Perhaps you are off too
 Maybe we're both off

[jeezy]

What do you think?

[Afrikoin]

What do you think?

[img]https://i.imgur.com/T0Kus6c.png

source?

[york780]

What do you think?

[img]https://i.imgur.com/T0Kus6c.png

source?

https://www.tradingview.com/chart/BTCUSD/HQNGCkqz-BTCUSD-Elliot-wave-analysis/

Thank me later

[Afrikoin]

What do you think?

what the chart (removed) shows as 2-7 is implied is a wave 3

wave 3 s are impulsive motive moves

It is important to note the difference between an impulsive wave and corrective wave

Here is a chart to illustrate

[Afrikoin]

[Kramerc]

Not an impulse? 

Higher high on stamp. Bearish. 

[Afrikoin]

Not an impulse?  

Higher high on stamp. Bearish.  

a higher high is not necessarily an impulse.

There is NO way this was a wave 3 ($162 to $1350)

It is a wave 1 at best

or a wave B on a larger cycle

or . . . the whole move down from $1163 to $162 and up again to $1350 was part of a complex wave 5 structure



 a wave 3 (and impulse waves) should have consecutive nested 5 waves like this one

[Afrikoin]

OK, I might've misunderstood your post but there is no such thing as "unnatural growth", except after a significant top is in, and there are no new buyers coming into the market. Throughout this entire rally there hasn't yet been that moment when people on the wrong side of the market are simply left behind. And that moment that makes lots of newcomers rush to the eco-system, looking to buy everything and anything they can get their hands on.

Did you sell at $800 during the rally to $1140? Had the chance to rebuy at the same price during the dump to $780. Sold at any price during the run-up to $1350? Didn't matter, you could buy in the dump to $890. Market still hasn't "punished" people that want to buy but are too greedy and want to wait for lower prices.

I expect this to happen, sooner rather than later.

I see a lot of people here that sold out their bitcoins and now they panic. This is excellent indicator where we go. Moon!

I was reading the last few pages and been thinking exactly the same. People are desperately hoping for a dump. I don't mind one, but I find it unlikely.

Still, there are bears lurking around who deny the existence of the uptrend and/or the bull market. First, we need to get rid of them completely, then enjoy going up on their money, then get the new bag holders coming in for our precious coins. Unless we start a very swift correction back below $800, which gets less and less likely by the day, I assume sunny days lie ahead of us.

Just itching to buy back in... this is torture!

I have sold at 670, two days ago. Since then, the price went up to 720, went down to 550 and kept fluctuating so I can say that I do know the feeling, even though I'm in this thing for only 2-3 weeks now. Now, the itch and anxiety have faded, and I'm just watching and waiting for the perfect moment to jump back in, but not before we get to another low. Be patient and have some sort of a plan, any plan; that will help drive the anxiety away.

In it for 2-3 weeks.. Does that mean you bought in at +$1000?

No. I'm in this for 2-3 weeks but bought at an average of 585, although both my reasoning and my gut feeling were telling me that the price would go lower. I bought impulsively and impaciently, even before reading the China news. Lesson learned, patience activated.

Just itching to buy back in... this is torture!

I have sold at 670, two days ago. Since then, the price went up to 720, went down to 550 and kept fluctuating so I can say that I do know the feeling, even though I'm in this thing for only 2-3 weeks now. Now, the itch and anxiety have faded, and I'm just watching and waiting for the perfect moment to jump back in, but not before we get to another low. Be patient and have some sort of a plan, any plan; that will help drive the anxiety away.

[Afrikoin]

[Okurkabinladin]

Bitcoin Has “Lost the Innovation of the Future” Says Balaji http://www.trustnodes.com/2017/04/23/bitcoin-lost-innovation-future-says-balaji

Ive just noticed, Afrikoin, that you bought back in on Bit-Simulator. So did your count change or? Should we seek 1500 like York mentioned earlier?

depends on which exchange

The simulator is my way to control my emotions. make nothing of it.

Thanks for clarifying  Yeah, I noticed, youve made quite alot of trades either way and it made me curious, why would your risk (even if its a game) your top position in the simulator.

[Okurkabinladin]

I would expect more rational perspective from seasoned member like you, Ted.

Unless we break 1250, 800 is in the play.

We've seen 1250. Are we rich yet?

And did we break it or stay there? While bad news keep mounting up and volume dried up?   Ah, screw it, I am betting meager 50 dollars I have right now on Okcoin, just to prove you, I mean bussiness. Maximum leverage on shorting.

I have rest of the funds off exchanges for the time being.

Okay, short @ 7150 noted for future reference.

Shorted that spare change at 7250  for your information, I dont trade during my work hours. Ive looked at your post history and you seem like the type, that cant help himself but post "to da moon" gifs instead of anything resembling analysis or atleast statistics. Take care.

[Afrikoin]

"In the simplest terms, Mr. Prechter describes "B" waves of all wave degrees as basically false waves built on shaky foundations and shaky economics. If you agree this is the biggest bullshit economic recovery in the history of recoveries, then you could easily comprehend what a huge "bullshit" cycle-sized b wave this entails. Its the mother-of-all-B-waves!  Which is the same as saying its the mother-of-all-corrective waves (even though it is nominally higher priced than in 2007). And the fact that it is a cyclic b wave is of historic proportions. But it all makes sense, doesn't it?  Does it feel like a true bull market?  Or does it feel like the biggest bullshit market? "


found a great blog for learning EW with charts

pulled quote from here http://danericselliottwaves.blogspot.co.ke/2014/07/

i am posting it here as a book mark

[Afrikoin]

Robert Prechter Talks About Elliott Waves and Socionomics

http://www2.elliottwave.com/affiliates_pr/archives/2017/04/21/Robert-Prechter-Talks-About-Elliott-Waves-and-His-New-Book-aa.aspx

[Afrikoin]

[Okurkabinladin]

I dont think, this image is quite complete. Back in 19th century, they would look at our "crises" and laugh. When economy entered depression it lead to outward starvation for lower classes. On the other hand western levels of growth (both speculative and represented in living standarts) grew at pace comparable to India or China today.

So rather, than the image representing shortening of economic cycles, it could aswell mean apex and stagnation (or permacrisis?) of western economy.

Your thoughts?

[Afrikoin]

[Afrikoin]