2021 Elliott Wave

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2021 Elliott Wave

• https://www.reddit.com/r/BitcoinMarkets/comments/kkhby9/2021_elliott_wave
• https://12345abcdewxyz.wordpress.com

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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[exstasie]

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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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...

Code:

$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...

Code:

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...

Code:

$379,693 : PRIMARY[5] = PRIMARY[3] * 1.000%

[exstasie]

Since PRIMARY[3] cannot be the shortest, the maximum upside potential for PRIMARY[5] wave is...

Code:

$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.

[UnDerDoG81]

I've settled on a range of $300-400K as my preferred scenario.

I can live with that.

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[sedactoo+04]

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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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...

Code:

$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]

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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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.

[TheLukeShort]

https://12345abcdewxyz.files.wordpress.com/2020/12/20201231-btcusd.png

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?

[JL0]

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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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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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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