2023 Elliott Wave

[phantailaptopbl]

Basically when you look at them in hindsight you know what wave you are in however in real time the wave can change and But after that, we are going to have hard time breaking over 36k and under 28k and just jump around between those prices and  Also to note that these fractals or theories are much better when there is more confirmation of their existence and And found it fascinating however when I tried to apply it to real trading I found it to be flawed and but your waves could be drawn very differently based on the amount of optimism you have.

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[marcdipaolo1]

Just logging in to say that I really enjoy these threads and reading peoples' analysis   

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Just logging in to say that I really enjoy these threads and reading peoples' analysis   

Thank you, its just guesswork at best !

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[GeorgeJohn]

Even to an extent bitcoin price can be determined with all this kind apparatus or system they are using to predict the values of bitcoin, I know quite well that if you want to follow the systematic way of bitcoin you have to follow it with precautions, so therefore bitcoin price always fluctuates and since the value of bitcoin fluctuates I don't think I can belive in any predictions or any scenarios given by anyone via bitcoin price.

[josegines]

...

posibly?

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posibly?

Possible, if 30K is cleared.

[josegines]

...

posibly?

...

Possible, if 30K is cleared.

I had doubts because I have always thought that the B of a plane could not be the shortest.

Wave 2 is probably another type of correction, rather than flat.

But as you say, if it exceeds $30k, we will have to think that we are in the 3

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I had doubts because I have always thought that the B of a plane could not be the shortest.

Wave 2 is probably another type of correction, rather than flat.

But as you say, if it exceeds $30k, we will have to think that we are in the 3

The rising wave which started from the low of 11-SEP, does appear to be corrective. So, this provides a clue that a B-wave uptrend is likely...

[Tzupy]

IMO the current pump is not consistent with the EW count presented, so it should be something else...
Could you post a count in which this pump goes to 2 of A (assuming the 15.5 k$ bottom was 1 of A)?

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IMO the current pump is not consistent with the EW count presented, so it should be something else...
Could you post a count in which this pump goes to 2 of A (assuming the 15.5 k$ bottom was 1 of A)?

Yes, the current rally, driven by BlackRock Bitcoin ETF speculation, has proven the anticipated short-term EW count to be incorrect.  

Current guesswork suggests the following two scenarios:

BULL : A weekly close above $36,000 ought to suggest the bull scenario may be underway.
BEAR : A decline below $30,000 ought to suggest the bear scenario may be underway.

In either scenario, the current guesswork is an expectation of resistance around the $36,000 zone.

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[josegines]

the 3 Primaries, 1-3-5,
they look similar,
with the halving right in the middle

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[josegines]

What hurry are you for the (i) to finish?
could reach over $50k
and the (ii) after 40k$

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What hurry are you for the (i) to finish?
could reach over $50k
and the (ii) after 40k$

A steeper pullback now would reset the overbought technical momentum indicators, and would then bode well for the next uptrend wave to blast through $50K 

[josegines]

What hurry are you for the (i) to finish?
could reach over $50k
and the (ii) after 40k$

A steeper pullback now would reset the overbought technical momentum indicators, and would then bode well for the next uptrend wave to blast through $50K 

Yes, although the market often does the opposite of what we believe,
how to continue rising with overbought.
Well, they are possible scenarios.

[EarnOnVictor]

What hurry are you for the (i) to finish?
could reach over $50k
and the (ii) after 40k$

A steeper pullback now would reset the overbought technical momentum indicators, and would then bode well for the next uptrend wave to blast through $50K 

Yes, although the market often does the opposite of what we believe,
how to continue rising with overbought.
Well, they are possible scenarios.

There is nothing happening in the market without an explanation, only that people do not often know the reason why the market made some moves. This is mainly because they might not have the right set of indicators/strategies that will point in that direction or warn them of the possible things which the market might do. And if the strategy/indicator has already pointed to an overbought/oversold condition, it means that the trader needs to be careful and take no decision at that time no matter how they are being tempted to do. This subsists even if they see the market move so much in the direction, just as they always believe they would have gained through it, but it could be a trap. What happens at that time is that the market sentiment is strong at the time and it will take time before it subsides. But for those who have the scalping and short-term ambition towards the market trading, they can still continue to gain towards that direction until the market does otherwise. But must be ready to manage their trading account tightly and use tight stop loss as well.

Also about Bitcoin, it's obvious that it's overbought, it would be slowing the bullish movements down if it didn't shed so many pips it gathered in order to take a breath so as to have the needed power to launch further upwards. But I doubt if the $50,000 will happen again this year. In the process of the coin taking this corrective breath, it would take time before it achieves that even as it still continues to make a bullish pattern again. The year is almost gone and 2 weeks is not enough to achieve this.