2023 Elliott Wave

[josegines]

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Have you set the maximum PRIMARY[5] just coinciding with the halving, was it intentional or by chance?

that is, until now the halving date has preceded the most bullish phase, which has lasted several months, it would be the first time that the halving coincides with a maximum.

The ghost grey projection of INTERMEDIATE(5) is more or less based on INTERMEDIATE(3) wave. This is because INTERMEDIATE(3) was the most recent bull market, and may still carry similar socionomic metrics forward in the current INTERMEDIATE(5) bull market.

If INTERMEDIATE(5) unfolds similarly to INTERMEDIATE(3) wave; in time this would approximate near the 2024 Halving.

Just using a historical benchmark of INTERMEDIATE(3) wave at the moment, which will be refined in price and time as the waves and events unfold.

Okay, thank you very much for the clarification.
I see that that would break the current cycle, where the halving is halfway to the maximum.
I suppose that at some point the halving will stop having that influence on the price, although I don't know if it can be now.

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[CookieFactory]

Congrats, nailed that wave 2.

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Congrats, nailed that wave 2.

Guesswork at best; sometimes it works, sometimes it doesn't !

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[josegines]

36k

I see that you mark the 36k,
but what would it be?
Are you pointing it out because there could be a significant correction in time or price?
Thanks!

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36k

I see that you mark the 36k,
but what would it be?
Are you pointing it out because there could be a significant correction in time or price?
Thanks!

Yes, the following chart suggests potential Fibonnaci-based resistance zones to consider on the linear and logarithmic scales...

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[FanEagle]

That is the price range we are going to be stuck at for a long time, potentially all year long as well. That's what 36k is, we have 28k at the bottom and 36k at the top and the price will hit 36k this year I believe, sometime not too long in the future neither. But after that, we are going to have hard time breaking over 36k and under 28k and just jump around between those prices. Maybe as further as the halving period as well, remember last time halving happened, we got a little drop first, but then we had a huge increase afterwards.

I think 36k will be broken in 2024, but don't know when it will be, but I highly doubt that it would do that this year. And I think this chart doesn't say it can't be, but that doesn't mean it can neither, shows the potential.

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That is the price range we are going to be stuck at for a long time, potentially all year long as well. That's what 36k is, we have 28k at the bottom and 36k at the top and the price will hit 36k this year I believe, sometime not too long in the future neither. But after that, we are going to have hard time breaking over 36k and under 28k and just jump around between those prices. Maybe as further as the halving period as well, remember last time halving happened, we got a little drop first, but then we had a huge increase afterwards.

I think 36k will be broken in 2024, but don't know when it will be, but I highly doubt that it would do that this year. And I think this chart doesn't say it can't be, but that doesn't mean it can neither, shows the potential.

A plausible count to support your thoughts...

[FUCKBSVFUCK]

I don't know what you mean by "earn wave" but it sounds like a lot of people are going to have a hard time predicting the price of Bitcoin. 
 
The thing is, we can't be sure if the price will go up or down in the next 24 hours or even a few hours from now. 
 
If you look at the chart you can see that there is a lot of uncertainty in the price of Bitcoin, which is something that can't be predicted by anything in the market right now. 
 
So, it's not a prediction but a market trend.

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[GeorgeJohn]

I don't know what you mean by "earn wave" but it sounds like a lot of people are going to have a hard time predicting the price of Bitcoin. 
 
The thing is, we can't be sure if the price will go up or down in the next 24 hours or even a few hours from now. 
 
If you look at the chart you can see that there is a lot of uncertainty in the price of Bitcoin, which is something that can't be predicted by anything in the market right now. 
 
So, it's not a prediction but a market trend.

It's obvious that the price of bitcoin is unpredictable, you can give your own analysis concerning bitcoin due to your observations and another person will also render its own analysis suggestions or ideas depending its ability of understanding bitcoin, the price of bitcoin goes up when it wants to go up.

[adaseb]

I remember I used to study Elliot waves back in my stock trading days. And found it fascinating however when I tried to apply it to real trading I found it to be flawed.

Basically when you look at them in hindsight you know what wave you are in however in real time the wave can change. So I basically stopped using it along with Fibonacci because these indicators rarely are accurate. But at least I hope it works for you.

[dragonvslinux]

I'm no fan of Elliot Wave, I believe it to be too subjective, as there are always a combination of different possibilities when considering different waves based on the highs and lows, but I will acknowledge your initial chart from January this year looks somewhat plausible. Certainly based on the theory we could well be in the second wave correction after the first parabolic wave.

My main scepticism however is Bitcoin reaching a new ATH prior to the halving, which while is possible, I think remains very unlikely.

Correct me if I'm wrong here, but your waves could be drawn very differently based on the amount of optimism you have. There we could be in an Elliot Wave pattern at present, but only one that leads to $50K-60K as opposed to the $200K+ target that you have for the halving.  On another note your 2022 EW prediction didn't pan out so well, which kind of proves my point here.

Also to note that these fractals or theories are much better when there is more confirmation of their existence. For example being in a 3rd or 4th wave has a good pattern confirmation of a 5-wave move. In contrast anticipating a first wave (even correctly) could be completely coincidental and not lead to the 5-wave pattern, let alone a 2nd or 3rd wave. So for now, there remains very little confirmation of this general theoy.

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I'm no fan of Elliot Wave, I believe it to be too subjective, as there are always a combination of different possibilities when considering different waves based on the highs and lows, but I will acknowledge your initial chart from January this year looks somewhat plausible. Certainly based on the theory we could well be in the second wave correction after the first parabolic wave.

My main scepticism however is Bitcoin reaching a new ATH prior to the halving, which while is possible, I think remains very unlikely.

Correct me if I'm wrong here, but your waves could be drawn very differently based on the amount of optimism you have. There we could be in an Elliot Wave pattern at present, but only one that leads to $50K-60K as opposed to the $200K+ target that you have for the halving.  On another note your 2022 EW prediction didn't pan out so well, which kind of proves my point here.

Also to note that these fractals or theories are much better when there is more confirmation of their existence. For example being in a 3rd or 4th wave has a good pattern confirmation of a 5-wave move. In contrast anticipating a first wave (even correctly) could be completely coincidental and not lead to the 5-wave pattern, let alone a 2nd or 3rd wave. So for now, there remains very little confirmation of this general theoy.

The projection is indicative of structure and form based on the prior waves within the same PRIMARY degree waveset, not time. So yes, may not achieve all-time highs until after the halving is a possibility.

[Moshi Moshi]

I'm no fan of Elliot Wave, I believe it to be too subjective, as there are always a combination of different possibilities when considering different waves based on the highs and lows, but I will acknowledge your initial chart from January this year looks somewhat plausible. Certainly based on the theory we could well be in the second wave correction after the first parabolic wave.

My main scepticism however is Bitcoin reaching a new ATH prior to the halving, which while is possible, I think remains very unlikely.

Correct me if I'm wrong here, but your waves could be drawn very differently based on the amount of optimism you have. There we could be in an Elliot Wave pattern at present, but only one that leads to $50K-60K as opposed to the $200K+ target that you have for the halving.  On another note your 2022 EW prediction didn't pan out so well, which kind of proves my point here.

Also to note that these fractals or theories are much better when there is more confirmation of their existence. For example being in a 3rd or 4th wave has a good pattern confirmation of a 5-wave move. In contrast anticipating a first wave (even correctly) could be completely coincidental and not lead to the 5-wave pattern, let alone a 2nd or 3rd wave. So for now, there remains very little confirmation of this general theoy.

The projection is indicative of structure and form based on the prior waves within the same PRIMARY degree waveset, not time. So yes, may not achieve all-time highs until after the halving is a possibility.

If you look at the history of the Bitcoin price, it always shows an Eliot wave every halving,
so you could say the Bitcoin price will be bullish towards the halving or after,
but we also have to be able to prepare a strategy so we don't get carried away if the Eliot wave from Bitcoin fails,
so hopefully Bitcoin will be bullish in 2024.

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