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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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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