ELLIOTT WAVE ANALYSIS OF BITCOIN (BTC/USD) PRICE

[chesthing]

From where we are right now, a drop to sub $100 followed by $2k would be impossible, and I'm not going into the reasons why it's a waste of time. It is you and every other fool disagreeing with me that is discredited. It's all a totally moot point because it's not going to happen, same as the dollar crash isn't going to happen, you tin hat wearing sob.

I see contingencies aren't part of your vocab. Well, they're part of mine, because I am not so arrogant as to assume unlikely events are impossible. This does not make one a "tin-hat wearing son-of-a-bitch", rather it makes one circumspect.

If btc dumps below $100 I'm buying as well, but it's that's not going to happen. What exactly are you bringing to this conversation anyway?

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[yefi]

What exactly are you bringing to this conversation anyway?

Only manna from heaven.

[sandiman]

From where we are right now, a drop to sub $100 followed by $2k would be impossible, and I'm not going into the reasons why it's a waste of time. It is you and every other fool disagreeing with me that is discredited. It's all a totally moot point because it's not going to happen, same as the dollar crash isn't going to happen, you tin hat wearing sob.

I see contingencies aren't part of your vocab. Well, they're part of mine, because I am not so arrogant as to assume unlikely events are impossible. This does not make one a "tin-hat wearing son-of-a-bitch", rather it makes one circumspect.

If btc dumps below $100 I'm buying as well, but it's that's not going to happen. What exactly are you bringing to this conversation anyway?

Not sure about that, you'll more probably be peeing your pants and selling your house shouting in your neighbourhood "the end is near".

[chesthing]

Nah, I woudn't be doing that. I think the real problem is too many people here haven't come to grips with the fact they missed out of bitcoin. Hoping and praying for a drop to $85 then to $2000 is simply a form of denial - you missed it, get over it. Spending that time and energy trying to find the next alt to go 20x with enough volume to turn your $50k into a million has a much better chance of being part of something huge like that. Of course, another ETH may not happen, but at least there's a chance unlike this elliot wave bitcoin fantasy.

[sandiman]

Nah, I woudn't be doing that. I think the real problem is too many people here haven't come to grips with the fact they missed out of bitcoin. Hoping and praying for a drop to $85 then to $2000 is simply a form of denial - you missed it, get over it. Spending that time and energy trying to find the next alt to go 20x with enough volume to turn your $50k into a million has a much better chance of being part of something huge like that. Of course, another ETH may not happen, but at least there's a chance unlike this elliot wave bitcoin fantasy.

Well that's a sad argument as your whole point was that if btc fell under 100$ you could not get rich quick anymore ...

This EW chart is using real rules and guidelines that have proven their efficiency (it already happened, EW analyst calling for a crash and being called stupid, until it happened), and it's not the only valid count that remains, but every options have to be regarded until one can be choosen due to its higher probabilities of happening.

[chesthing]

Nah, I woudn't be doing that. I think the real problem is too many people here haven't come to grips with the fact they missed out of bitcoin. Hoping and praying for a drop to $85 then to $2000 is simply a form of denial - you missed it, get over it. Spending that time and energy trying to find the next alt to go 20x with enough volume to turn your $50k into a million has a much better chance of being part of something huge like that. Of course, another ETH may not happen, but at least there's a chance unlike this elliot wave bitcoin fantasy.

Well that's a sad argument as your whole point was that if btc fell under 100$ you could not get rich quick anymore ...

This EW chart is using real rules and guidelines that have proven their efficiency (it already happened, EW analyst calling for a crash and being called stupid, until it happened), and it's not the only valid count that remains, but every options have to be regarded until one can be choosen due to its higher probabilities of happening.

Well then you better sell all your btc and wait for that drop to $100. Or are you talking your book and have already done that?

[Denker]

Hmm not sure what I shall say about that analysis.
It my be true in theory but Bitcoin has proven so many oracles and experts wrong over the years.
A drop to $85 would create a massive panic and doom scenario where even the hardcore hodlers could get in panic.
I myself doubt we will drop again below $100 without any significant bug in the network.
But good luck (or better not) with your assumption.

[sandiman]

Nah, I woudn't be doing that. I think the real problem is too many people here haven't come to grips with the fact they missed out of bitcoin. Hoping and praying for a drop to $85 then to $2000 is simply a form of denial - you missed it, get over it. Spending that time and energy trying to find the next alt to go 20x with enough volume to turn your $50k into a million has a much better chance of being part of something huge like that. Of course, another ETH may not happen, but at least there's a chance unlike this elliot wave bitcoin fantasy.

Well that's a sad argument as your whole point was that if btc fell under 100$ you could not get rich quick anymore ...

This EW chart is using real rules and guidelines that have proven their efficiency (it already happened, EW analyst calling for a crash and being called stupid, until it happened), and it's not the only valid count that remains, but every options have to be regarded until one can be choosen due to its higher probabilities of happening.

Well then you better sell all your btc and wait for that drop to $100. Or are you talking your book and have already done that?

I still have plenty of room before I take a loss with bitcoin, and this amount is not allocated to trading, so I won't ever sell them  Nonetheless, I always have some FIAT aside 

[Snorek]

Perfect example of completely misunderstanding bitcoin's value and where it comes from. You can't apply traditional chart analysis to bitcoin - ask Matthecat how that went. Things like elliot wave have no meaning here.

This. Also any value lower that $100 or even $300 or even slightly more will cause bitcoin mining to crash.
Economy is not that old branch of science, Industrial Revolution happened 250 years ago and progress happened too fast in short amount of time to create current highly unstable economic markets.

Bitcoin was invented less than decade ago. Trying to measure it purely with standard economic tools is totally missed idea.

[RyNinDaCleM]

Perfect example of completely misunderstanding bitcoin's value and where it comes from. You can't apply traditional chart analysis to bitcoin - ask Matthecat how that went. Things like elliot wave have no meaning here.

This. Also any value lower that $100 or even $300 or even slightly more will cause bitcoin mining to crash.
Economy is not that old branch of science, Industrial Revolution happened 250 years ago and progress happened too fast in short amount of time to create current highly unstable economic markets.

Bitcoin was invented less than decade ago. Trying to measure it purely with standard economic tools is totally missed idea.

Bitcoin price has fallen below miners profitability zones before, so a floor based on that and to think it simply it can't is a fallacy

[Afrikoin]

I signed up for the free content at
www.elliottwave.com

and have done a little research, but since I'm still very new to this,
can someone explain the theory on why coins would have to drop to something as low as $85 before they would go up to $2000?

It seems to me that if coins ever went back down to $85 it would be the result of people using a different coin, etc. (AKA Bitcoin is dead at that point.)

Nobody is saying it *has to* happen ...
Some are just more open-minded to alternate possibilites and paths than others
OP's count looks perfectly valid in EW terms to me, but its not the *only* count

3 examples way before price went up. From 4 + months ago





this one is actually from 1 year ago

[Afrikoin]

I signed up for the free content at
www.elliottwave.com

and have done a little research, but since I'm still very new to this,
can someone explain the theory on why coins would have to drop to something as low as $85 before they would go up to $2000?

It seems to me that if coins ever went back down to $85 it would be the result of people using a different coin, etc. (AKA Bitcoin is dead at that point.)

Nobody is saying it *has to* happen ...
Some are just more open-minded to alternate possibilites and paths than others
OP's count looks perfectly valid in EW terms to me, but its not the *only* count

3 examples way before price went up. From 4 + months ago





this one is actually from 1 year ago

[chesthing]

Nah, I woudn't be doing that. I think the real problem is too many people here haven't come to grips with the fact they missed out of bitcoin. Hoping and praying for a drop to $85 then to $2000 is simply a form of denial - you missed it, get over it. Spending that time and energy trying to find the next alt to go 20x with enough volume to turn your $50k into a million has a much better chance of being part of something huge like that. Of course, another ETH may not happen, but at least there's a chance unlike this elliot wave bitcoin fantasy.

Well that's a sad argument as your whole point was that if btc fell under 100$ you could not get rich quick anymore ...

This EW chart is using real rules and guidelines that have proven their efficiency (it already happened, EW analyst calling for a crash and being called stupid, until it happened), and it's not the only valid count that remains, but every options have to be regarded until one can be choosen due to its higher probabilities of happening.

Well then you better sell all your btc and wait for that drop to $100. Or are you talking your book and have already done that?

I still have plenty of room before I take a loss with bitcoin, and this amount is not allocated to trading, so I won't ever sell them  Nonetheless, I always have some FIAT aside 

So, as we all know actions speak much louder than words, thus you agree with me $85 is insanely unlikely. Why are you blathering on about $85 coins then?

[infofront]

Perfect example of completely misunderstanding bitcoin's value and where it comes from. You can't apply traditional chart analysis to bitcoin - ask Matthecat how that went. Things like elliot wave have no meaning here.

This. Also any value lower that $100 or even $300 or even slightly more will cause bitcoin mining to crash.
Economy is not that old branch of science, Industrial Revolution happened 250 years ago and progress happened too fast in short amount of time to create current highly unstable economic markets.

Bitcoin was invented less than decade ago. Trying to measure it purely with standard economic tools is totally missed idea.

You're thinking in terms of economics. Elliot Wave Theory, and other chart analysis tools, can be viewed as mass psychology tools. Bitcoin may be a new market, but it's controlled by the same, predictable human psychology that has ruled all markets since the stone age.

[RyNinDaCleM]

Perfect example of completely misunderstanding bitcoin's value and where it comes from. You can't apply traditional chart analysis to bitcoin - ask Matthecat how that went. Things like elliot wave have no meaning here.

This. Also any value lower that $100 or even $300 or even slightly more will cause bitcoin mining to crash.
Economy is not that old branch of science, Industrial Revolution happened 250 years ago and progress happened too fast in short amount of time to create current highly unstable economic markets.

Bitcoin was invented less than decade ago. Trying to measure it purely with standard economic tools is totally missed idea.

You're thinking in terms of economics. Elliot Wave Theory, and other chart analysis tools, can be viewed as mass psychology tools. Bitcoin may be a new market, but it's controlled by the same, predictable human psychology that has ruled all markets since the stone age.

THIS

[Dafar]

LOL @ fucking idiots ITT entertaining the idea of $100/btc when there is absolutely no reason for it go fall that much besides some imaginary chart theories

Perfect example of completely misunderstanding bitcoin's value and where it comes from. You can't apply traditional chart analysis to bitcoin - ask Matthecat how that went. Things like elliot wave have no meaning here.

This. Also any value lower that $100 or even $300 or even slightly more will cause bitcoin mining to crash.
Economy is not that old branch of science, Industrial Revolution happened 250 years ago and progress happened too fast in short amount of time to create current highly unstable economic markets.

Bitcoin was invented less than decade ago. Trying to measure it purely with standard economic tools is totally missed idea.

You're thinking in terms of economics. Elliot Wave Theory, and other chart analysis tools, can be viewed as mass psychology tools. Bitcoin may be a new market, but it's controlled by the same, predictable human psychology that has ruled all markets since the stone age.

Yes because bitcoin price movements have been so predictable!

[immangrace]

Perfect example of completely misunderstanding bitcoin's value and where it comes from. You can't apply traditional chart analysis to bitcoin - ask Matthecat how that went. Things like elliot wave have no meaning here.

Best answer that sums up my thoughts, you can't apply traditional thinking to new cryptos, if it were true, you would have predicted the $1000 price when it was below $1 and you would have been a millionaire not talking to us here.

[sandiman]

Perfect example of completely misunderstanding bitcoin's value and where it comes from. You can't apply traditional chart analysis to bitcoin - ask Matthecat how that went. Things like elliot wave have no meaning here.

Best answer that sums up my thoughts, you can't apply traditional thinking to new cryptos, if it were true, you would have predicted the $1000 price when it was below $1 and you would have been a millionaire not talking to us here.

done by an EW analyst 

https://bitcointalk.org/index.php?topic=274613.0

[SANALIU]

how to anlys price bitcoin with elliott wave
your ready or create indicator can get grafic eliot wave or not
and you use indicator elliot wave where i can download, accurate or not is your indicator elliot wave

[Barbut]

One more analysis about big drop in price of btc. Two months after we are on the same place like we use to be. More chances that after this silence price will go up, then down.
I see how many people try to implement some analysis on bitcoin currency without any success. They are trying to do something impossible in my opinion, bitcoin is something new and there isn't any similarities with other currencies. Except one we can spend bitcoins as other currencies.