LUCKMCFLY
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February 22, 2021, 06:10:57 AM |
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I have a peculiarity, I always analyze the market with the Wyckoff method, but when we are in trend either bullish or bearish, I like to analyze these trends with Elliot waves, so I have verified in many more graphs that it is true. I like the approach you show, I think a lot can be done doing the analysis to weeks and days using Elliot, it would give level 1A information.
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xxxx123abcxxxx (OP)
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March 01, 2021, 11:35:34 PM |
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I have a peculiarity, I always analyze the market with the Wyckoff method, but when we are in trend either bullish or bearish, I like to analyze these trends with Elliot waves, so I have verified in many more graphs that it is true. I like the approach you show, I think a lot can be done doing the analysis to weeks and days using Elliot, it would give level 1A information.
Unfamiliar with the Wyckoff method. But would imagine the "Oversold/Accumulation" phase to correspond with the first/second Elliott Waves, the "Markup" phase to correspond with the third Elliott Wave, and the "Overbought/Distribution" phase corresponding to the fourth/fifth Elliott Wave. |
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Wilhelm
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Activity: 1652
Merit: 1265
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March 05, 2021, 09:57:43 AM |
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So dip to 40k and off to >60k. Yup March will suck like each year....  |
Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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xxxx123abcxxxx (OP)
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March 06, 2021, 10:43:50 PM
Last edit: March 06, 2021, 11:04:38 PM by xxxx123abcxxxx Merited by El duderino_ (1) |
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So dip to 40k and off to >60k. Yup March will suck like each year.... Yes, that is the current thinking at the moment. A move beyond 53K from here may be a start for the flip back to bullish bias. |
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MiningBattalion
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March 18, 2021, 06:17:46 PM |
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As you probably know, Elliott wave patterns range from tiny ones that cover the span of just a few minutes all the up to patterns that span centuries.And the same Fibonacci proportions also begin to point to the year 2021 as a very important moment in financial history.That's what Elliott wave fans mean when they say that the financial market are fractal,A lot! For one, clear Fibonacci proportions begin to emerge between multi-decade historical periods. |
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xxxx123abcxxxx (OP)
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March 18, 2021, 10:21:24 PM |
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As you probably know, Elliott wave patterns range from tiny ones that cover the span of just a few minutes all the up to patterns that span centuries.And the same Fibonacci proportions also begin to point to the year 2021 as a very important moment in financial history.That's what Elliott wave fans mean when they say that the financial market are fractal,A lot! For one, clear Fibonacci proportions begin to emerge between multi-decade historical periods.
Fibonacci-based resistance zones outlined here: https://www.reddit.com/r/BitcoinMarkets/comments/kkhby9/2021_elliott_wave/ |
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josegines
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March 30, 2021, 08:23:54 AM |
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I am not a specialist in elliot, but without understanding how (2) can be almost on the same level as [4]. What I see more logical is that (2) is actually the end of [4] Anyway, thank you very much for the follow-up you do. |
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xxxx123abcxxxx (OP)
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March 30, 2021, 06:52:01 PM |
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I am not a specialist in elliot, but without understanding how (2) can be almost on the same level as [4]. What I see more logical is that (2) is actually the end of [4]
Anyway, thank you very much for the follow-up you do.
NOV/DEC 2020 and FEB/MAR 2021 are similar price fractals, see here:  |
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josegines
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March 30, 2021, 10:19:50 PM |
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I am not a specialist in elliot, but without understanding how (2) can be almost on the same level as [4]. What I see more logical is that (2) is actually the end of [4]
Anyway, thank you very much for the follow-up you do.
NOV/DEC 2020 and FEB/MAR 2021 are similar price fractals, see here: I was talking about the Primary wave [4] |
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xxxx123abcxxxx (OP)
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March 31, 2021, 03:23:21 AM |
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I am not a specialist in elliot, but without understanding how (2) can be almost on the same level as [4]. What I see more logical is that (2) is actually the end of [4]
Anyway, thank you very much for the follow-up you do.
NOV/DEC 2020 and FEB/MAR 2021 are similar price fractals, see here: I was talking about the Primary wave [4] That would imply the rise from the low of 2018 to the top of 2019 is wave a B-wave as part of PRIMARY[4] wave. B-waves are corrective three wave structures. The rise from 2018 to 2019 is an impulsive five wave parabolical structure. Character and magnitude of such waves are classic motive waves in Bitcoin. The 2015 and 2019 bull markets began with similar price fractals, see here:  |
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josegines
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April 01, 2021, 12:08:35 AM |
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That would imply the rise from the low of 2018 to the top of 2019 is wave a B-wave as part of PRIMARY[4] wave.
B-waves are corrective three wave structures.
The rise from 2018 to 2019 is an impulsive five wave parabolical structure. Character and magnitude of such waves are classic motive waves in Bitcoin.
The 2015 and 2019 bull markets began with similar price fractals, see here:
Couldn't I have finished that B on Feb / 20, with a C miss? The fall of March/20 could be the C of a flat 2018-2020 When looking at the graph, it seems clear that the 2018-2020 correction ended in March/20 and from there, the price rise rapidly to exceed the previous highs of the flat, something common in the flat. |
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xxxx123abcxxxx (OP)
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April 01, 2021, 04:10:22 AM |
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Couldn't I have finished that B on Feb / 20, with a C miss?
The fall of March/20 could be the C of a flat 2018-2020
When looking at the graph, it seems clear that the 2018-2020 correction ended in March/20 and from there, the price rise rapidly to exceed the previous highs of the flat, something common in the flat.
Your suggestion means both the (B)-wave and (C)-wave, and lower degree C-wave are all truncated misses —no such Elliott Wave structure. The below image illustrates your erroneous structure of three failed truncated wave misses...  |
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drays
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April 01, 2021, 07:12:08 PM
Last edit: April 01, 2021, 10:09:50 PM by drays |
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I am not a specialist in elliot, but without understanding how (2) can be almost on the same level as [4]. What I see more logical is that (2) is actually the end of [4]
[4] at March 2020 could be a bit deeper than it should have been, due to the immense covid-induced panic at that moment. All the world markets dipped unnaturally then, and if we take into account the lack of liquidity in Bitcoin markets (compared to a traditional stock or commodity market), it is only logical that Bitcoin have dipped even more than typical liquid market. However that was very short-time dip, more of a wick on the chart. Still that MAR 2020 low is quite a bit higher than the low of 2018 (which is marked as [4]), so the structure is technically quite acceptable. Just my 2 cents. I am not an EW expert too. xxxx123abcxxxx is the one, and I learned to appreciate his technical analysis a lot. I am stressing the word technical, as we had few disagreements in the past related to long-term fundamental aspects. |
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josegines
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April 01, 2021, 07:39:46 PM
Last edit: April 01, 2021, 08:11:44 PM by josegines |
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Couldn't I have finished that B on Feb / 20, with a C miss?
The fall of March/20 could be the C of a flat 2018-2020
When looking at the graph, it seems clear that the 2018-2020 correction ended in March/20 and from there, the price rise rapidly to exceed the previous highs of the flat, something common in the flat.
Your suggestion means both the (B)-wave and (C)-wave, and lower degree C-wave are all truncated misses —no such Elliott Wave structure. The below image illustrates your erroneous structure of three failed truncated wave misses... In that case, if that minimum of March/20 is (2), wouldn't the (4) you have drawn be too small? (only 2 bars falling, compared to 37 in (2)) For there to be alternation, wouldn't it be more logical to see a triangle as wave (4)? Now I realize that the same thing happens in the previous cycle, the (4) looks much smaller than the (2). |
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