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Author Topic: Ross Ulbricht (Silkroad guy) doing elliot wave analysis from prison  (Read 102 times)
Qoheleth
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December 11, 2019, 06:28:45 PM
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Apparently he's getting help posting these from friends outside of prison, who send him charts every week to draw on and write about.
Yesterday four posts went up, first one is here (each ends with a link to the next).

TL;DR: He sees December 2017 as being either the (3) after Jan 2015's ④, in which case he imagines a price target around $100k...


...or as I⑤ ending a giant Wave I that encompasses most of Bitcoin's history, in which case we have two more downtrends to weather and should expect a bottom well below $3k.


I don't know much about Elliot waves and am not sure I believe in them myself, but thought it would be interesting to y'all especially given Ross's more general notability.

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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December 11, 2019, 07:08:05 PM
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Quite an interesting turn of events. I can't say I'm in 100% agreement with his EW count, but it's always good to have alternative views to challenge our biases. And it's pretty cool to be charting BTC alongside Ross. Cool

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