xxxx123abcxxxx (OP)
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December 16, 2020, 05:45:33 PM Last edit: September 02, 2021, 08:32:17 AM by xxxx123abcxxxx |
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2021 Elliott Wave Speculatively forecasting the price of Bitcoin via subjectively using the Elliott Wave principle. Analysis is conjecture with sporadic fortnightly to monthly updates. Previous thread: 2019 Cryptocurrency (Elliott Wave)
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The grue lurks in the darkest places of the earth. Its favorite diet is adventurers, but its insatiable appetite is tempered by its fear of light. No grue has ever been seen by the light of day, and few have survived its fearsome jaws to tell the tale.
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xxxx123abcxxxx (OP)
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December 16, 2020, 05:46:03 PM Last edit: December 17, 2020, 01:28:36 AM by xxxx123abcxxxx |
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xxxx123abcxxxx (OP)
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December 16, 2020, 05:46:23 PM Last edit: December 17, 2020, 01:30:40 AM by xxxx123abcxxxx |
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exstasie
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Activity: 1806
Merit: 1521
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December 16, 2020, 06:33:50 PM |
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Excited to see a new thread. I see you've revised targets for your Primary [5] significantly higher this time. Good thing, I always thought those targets in the $30,000s were way too low. An order of magnitude higher sounds about right.
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xxxx123abcxxxx (OP)
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December 17, 2020, 12:21:43 AM |
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Excited to see a new thread. I see you've revised targets for your Primary [5] significantly higher this time. Good thing, I always thought those targets in the $30,000s were way too low. An order of magnitude higher sounds about right. Using BLX:BNC pricing, here are Fibonacci-based projection target zones for PRIMARY[5] wave... $34,575 : PRIMARY[5] = PRIMARY[3] * 0.500% $60,864 : PRIMARY[5] = PRIMARY[3] * 0.618% $136,152 : PRIMARY[5] = PRIMARY[3] * 0.786% $219,866 : PRIMARY[5] = PRIMARY[3] * 0.886% $379,693 : PRIMARY[5] = PRIMARY[3] * 1.000%
In terms of the bull market impulsive waves... PRIMARY[1] = 1,178 points / 3,666,017% PRIMARY[3] = 19,601 points / 11,961% PRIMARY[5] = 18,500 points / 600% (thus far)
Since PRIMARY[3] cannot be the shortest, the maximum upside potential for PRIMARY[5] wave is... $379,693 : PRIMARY[5] = PRIMARY[3] * 1.000%
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exstasie
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December 17, 2020, 09:57:51 PM |
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Since PRIMARY[3] cannot be the shortest, the maximum upside potential for PRIMARY[5] wave is... $379,693 : PRIMARY[5] = PRIMARY[3] * 1.000% Based on harmonics and extrapolations of the past, that's my view as well. Given the impossibility of predicting where blow-off tops end, and also how illiquid the BTC market is (especially during bubbles), I've settled on a range of $300-400K as my preferred scenario. I know the upper bound is slightly outside of the valid range for Wave 5, but I also think short term violations like that are possible under those market conditions.
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UnDerDoG81
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December 17, 2020, 10:29:33 PM |
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I've settled on a range of $300-400K as my preferred scenario.
I can live with that.
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sedactoo+04
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Hello World!
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December 28, 2020, 07:35:14 AM |
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Hurray! My favorite 2021 topic is ready, I was sad that you passed Elliott Wave 2020. Bookmarking this topic right away. Considering MINOR 1 made a really small pull back, do you think that MINOR 4 will have a huge pull back to 0.618s?
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xxxx123abcxxxx (OP)
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December 28, 2020, 02:26:23 PM Last edit: December 28, 2020, 02:39:56 PM by xxxx123abcxxxx |
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Hurray! My favorite 2021 topic is ready, I was sad that you passed Elliott Wave 2020. Bookmarking this topic right away. Considering MINOR 1 made a really small pull back, do you think that MINOR 4 will have a huge pull back to 0.618s?
Thank you, hope all is well. Merry Christmas & best wishes for 2021. Assuming MINOR 3 ends around $35,000, then the following may be possible estimate zones for MINOR 4 pullback... $25,000: Fibonacci 23.6% retracement $20,000: Fibonacci 38.2% retracement
Not expecting anything deeper than the first zone. MINOR 2 pullback was a shallow sideways affair elapsing a month. The steeper the pullback, the quicker it ends.
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JL0
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Bitcoin the Digital Gold
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December 31, 2020, 03:38:53 PM |
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Thank you for your Post's. From $29K to ~$25K is a %13 pull back right ? You see any chance of ~30-40% pull back like in the last bullrun ?
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xxxx123abcxxxx (OP)
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December 31, 2020, 04:06:39 PM |
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Thank you for your Post's. From $29K to ~$25K is a %13 pull back right ? You see any chance of ~30-40% pull back like in the last bullrun ?
Expecting a 7% to 11% pullback. Since Wave-4 cannot overlap Wave-1, the maximum is allowable is a 17% pullback.
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TheLukeShort
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December 31, 2020, 10:43:50 PM |
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If it continues into all time high area again, do you see this pull back invalidated? Could the pullback on the 4 hour chart have been the correction a couple days ago with the way it’s been moving?
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JL0
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Bitcoin the Digital Gold
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January 01, 2021, 12:37:35 AM |
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Thank you for your Post's. From $29K to ~$25K is a %13 pull back right ? You see any chance of ~30-40% pull back like in the last bullrun ?
Expecting a 7% to 11% pullback. Since Wave-4 cannot overlap Wave-1, the maximum is allowable is a 17% pullback. Thank you for your prompt reply. I still have a little Fiat left. I would like to hear your advice on where to buy or where to place an order to buy.
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xxxx123abcxxxx (OP)
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January 01, 2021, 02:01:21 AM |
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If it continues into all time high area again, do you see this pull back invalidated? Could the pullback on the 4 hour chart have been the correction a couple days ago with the way it’s been moving?
It appears MINUETTE (iii) wave is still in progress. Once complete, would then still expect MINUETTE (iv) pullback. Followed by a final MINUETTE (v) towards around $35K to complete the trend. No invalidation to the proposed count at the moment.
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xxxx123abcxxxx (OP)
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January 01, 2021, 02:08:04 AM |
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Thank you for your prompt reply. I still have a little Fiat left. I would like to hear your advice on where to buy or where to place an order to buy.
Currently expecting the uptrend which began on 27-JUN-2020 to complete around $35,000. At which point, expecting a notable pullback, which ought to serve as a buy entry point.
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