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Author Topic: Wave 5 or wave C  (Read 1907 times)
miztaziggy
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November 21, 2013, 06:47:34 PM
 #1

So what's the general consensus here?

Are the yellow circles points 5 and B and now we will see a massive drop, or, are they 3 and 4 and we are about to see an explosion?


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November 21, 2013, 06:49:48 PM
 #2

So what's the general consensus here?

Are the yellow circles points 5 and B and now we will see a massive drop, or, are they 3 and 4 and we are about to see an explosion?



Neither circle can be 4.  4 is a down wave.

https://www.bitcoin.org/bitcoin.pdf
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November 21, 2013, 07:03:13 PM
 #3

It would be a new phenomena in the trend of rallies and mini bubbles if bitcoin were to rise again to massive levels after a 50% one day drop in value this week. For that reason I think we`re in a bull trap now, so we`re on the B wave now, or the bullish `return to normal` phase.

IMO, too many new investors were burned by the bumpy ride this week, and it will take a few weeks for them to regain their nerve, if they come back at all. Also, prices are still too high to attract many new investors at this stage. The psychological barrier of buying `one coin` should not be underestimated. I think this little rally will lose steam and we should drop by a good margin this weekend.

Night gathers, and now my bitcoinwisdom watch begins.
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November 21, 2013, 07:09:14 PM
 #4

It would be a new phenomena in the trend of rallies and mini bubbles if bitcoin were to rise again to massive levels after a 50% one day drop in value this week. For that reason I think we`re in a bull trap now, so we`re on the B wave now, or the bullish `return to normal` phase.

IMO, too many new investors were burned by the bumpy ride this week, and it will take a few weeks for them to regain their nerve, if they come back at all. Also, prices are still too high to attract many new investors at this stage. The psychological barrier of buying `one coin` should not be underestimated. I think this little rally will lose steam and we should drop by a good margin this weekend.

We are either on the verge of C, or 5 is already in progress.  At least a small C is more likely IMO, and it's extent will tell us a lot about what the next few weeks hold.

https://www.bitcoin.org/bitcoin.pdf
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November 21, 2013, 07:09:50 PM
 #5

I agree
If btc go past 1000 I'll buy back what I sold at a 30% loss.
But unless btcchina starts pulling this market back up all I see is mt gox users buying because they don't know how to get there money back to the us

Once they feel safe I believe we will go back down
Then again I'm almost always wrong


 
 
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Tzupy
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November 21, 2013, 07:15:50 PM
 #6

Wave C with some 8 million $ bids more than 'normal', maybe it will morph into a supportive sub-wave, we'll know tomorrow.

Sometimes, if it looks too bullish, it's actually bearish
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November 21, 2013, 08:44:30 PM
 #7

I agree
If btc go past 1000 I'll buy back what I sold at a 30% loss.
But unless btcchina starts pulling this market back up all I see is mt gox users buying because they don't know how to get there money back to the us

Once they feel safe I believe we will go back down
Then again I'm almost always wrong

When there was a $100+ gap I would have agreed - now that bitstamp is only $20 away, I think those times are over.

I am thinking (perhaps) naively, that now the senate has approved, gox should have  much better chance of getting a decent partnership(s?) with US banks.

Then there is just SEPA to sort out. Not sure what the problem there is, as bitstamp seem to be just fine.

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antimattercrusader
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November 21, 2013, 10:32:54 PM
 #8

Even a broken clock is correct twice per day.

2 / 86400000000000 nanoseconds = 0.0000000000023%


Take that for what it's worth.

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November 21, 2013, 10:55:22 PM
 #9

wave 3 was the rise from 200+ usd  to 900+ usd, followed by a clear correction and retrace which is 4. Now, we're in the final leg = 5.
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November 22, 2013, 12:54:57 AM
 #10

wave 3 was the rise from 200+ usd  to 900+ usd, followed by a clear correction and retrace which is 4. Now, we're in the final leg = 5.

What usually happens after the final leg = 5?
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November 22, 2013, 12:58:41 AM
 #11

wave 3 was the rise from 200+ usd  to 900+ usd, followed by a clear correction and retrace which is 4. Now, we're in the final leg = 5.

What usually happens after the final leg = 5?

I think something with Luna.
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November 22, 2013, 01:01:29 AM
 #12

Wave 5: Wave five is the final leg in the direction of the dominant trend. The news is almost universally positive and everyone is bullish. Unfortunately, this is when many average investors finally buy in, right before the top. Volume is often lower in wave five than in wave three, and many momentum indicators start to show divergences (prices reach a new high but the indicators do not reach a new peak). At the end of a major bull market, bears may very well be ridiculed (recall how forecasts for a top in the stock market during 2000 were received).
Teal Deer
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November 22, 2013, 01:04:50 AM
 #13

Can someone explain to this noob what the different waves are/mean?


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November 22, 2013, 01:06:14 AM
 #14

Can someone explain to this noob what the different waves are/mean?

Tea leaves Smiley
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November 22, 2013, 01:21:52 AM
 #15

EW analysis is awesome because when a movement doesn't fit one possible predicted EW pattern, we can clearly see, after the fact, it perfectly fit another.
antoineph
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November 22, 2013, 01:28:31 AM
 #16

funnily enough, that's also true of astrological readings.
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November 22, 2013, 02:16:15 AM
 #17

It would be a new phenomena in the trend of rallies and mini bubbles if bitcoin were to rise again to massive levels after a 50% one day drop in value this week. For that reason I think we`re in a bull trap now, so we`re on the B wave now, or the bullish `return to normal` phase.

IMO, too many new investors were burned by the bumpy ride this week, and it will take a few weeks for them to regain their nerve, if they come back at all. Also, prices are still too high to attract many new investors at this stage. The psychological barrier of buying `one coin` should not be underestimated. I think this little rally will lose steam and we should drop by a good margin this weekend.

Yeah this has never happened before.

Except, of course, in March.  Roll Eyes

You, my bearish friend are going to feel the rath of $1000 BTC in less than 9 days.
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November 22, 2013, 02:17:23 AM
 #18

So what's the general consensus here?

Are the yellow circles points 5 and B and now we will see a massive drop, or, are they 3 and 4 and we are about to see an explosion?



I think its mostly like the 5th C wave, also known as C.5
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November 22, 2013, 02:30:32 AM
 #19

This is a fourth wave sideways correction.  One more leg up imo.

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November 22, 2013, 02:40:18 AM
 #20

I'm not buying this wave 5 business I was under the impression were about to hit a C...
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