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Author Topic: CryptoWaves - Elliott Wave Analysis Blog  (Read 29073 times)
chessnut
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April 15, 2014, 09:14:07 AM
Last edit: April 15, 2014, 09:41:46 AM by chessnut
 #41



This may be overly forward looking, but this is roughly what I am expecting in the coming days/weeks.

600 may put up a fight.

Correction may enter 400s again, but I think that 500 may become support.

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April 15, 2014, 09:42:05 AM
 #42

Could be, or we may have just topped at 509.

Let's see how this will plat out!

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April 15, 2014, 10:20:12 AM
 #43

Could be, or we may have just topped at 509.

Let's see how this will plat out!

Are you thinking of a C wave analysis?

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April 15, 2014, 11:47:22 AM
 #44

All right. This looks reasonable:



So if we are at the start of the new uptrend, I guess we are struggling at the end of subwave 1 of major wave. So now it looks like we going to have correction to somewhere around 450.



What confuses me is volume which is higher than usual. Upon reversal volume drops AFAIK.

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April 15, 2014, 11:51:47 AM
 #45

All right. This looks reasonable:



So if we are at the start of the new uptrend, I guess we are struggling at the end of subwave 1 of major wave. So now it looks like we going to have correction to somewhere around 450.



What confuses me is volume which is higher than usual. Upon reversal volume drops AFAIK.

So from your analysis sticking a limit order in around $450 looks like a solid plan right? I stupidly missed the sub $400 price waiting for funds to clear.
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April 15, 2014, 01:17:05 PM
 #46

..... sorry I read it wrong. you are saying this is wave I terminated. dont you think that wave II and IV are disproportionate?


Thanks for critics.
Yep, they are. But I fail to find another way to draw 5 waves here. Especially when they fit fibos.
We may assume that this is zigzag. Wave b then ends around 0.764 of previous wave 4 and wave c end around 1.618 previous wave 4. Also fits well.
To confirm this we should drop below 440. But it still could be wave 2 of major wave 1 retracing.

So, I don't know what is it.


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chessnut
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April 15, 2014, 01:27:01 PM
 #47

well we know that the wedge was a wave iv to some degree. price likes to turn around in wedge territory. I will set a buy target there. Hopefully this is not a wave C.... but that could be a valid reading.


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April 15, 2014, 08:53:21 PM
 #48



.... if this wedge play on to the upside, then I would assume my earlier interpretation is correct.



This may be overly forward looking, but this is roughly what I am expecting in the coming days/weeks.

600 may put up a fight.

Correction may enter 400s again, but I think that 500 may become support.


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April 16, 2014, 12:23:35 AM
 #49

..... sorry I read it wrong. you are saying this is wave I terminated. dont you think that wave II and IV are disproportionate?


Thanks for critics.
Yep, they are. But I fail to find another way to draw 5 waves here. Especially when they fit fibos.
We may assume that this is zigzag. Wave b then ends around 0.764 of previous wave 4 and wave c end around 1.618 previous wave 4. Also fits well.
To confirm this we should drop below 440. But it still could be wave 2 of major wave 1 retracing.

So, I don't know what is it.



Here is another option for your previous count. Has both bearish and bullish scenarios.


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April 16, 2014, 12:34:37 AM
 #50

I read that chart wrong the first time, deleted comment.

Really good chart, thanks. I hope to see all degrees of a primary wave kick off this new trend.

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April 16, 2014, 12:36:49 AM
 #51

What about this?

chessnut
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April 16, 2014, 12:45:19 AM
 #52

Not very detailed BUT I LIKE IT  Grin fifth wave blow out FTW!

I have slightly lower expectations.

EDIT. btw, I dont think wave iii is over just yet. Looking for 540 at least.

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April 16, 2014, 01:08:56 AM
 #53

EDIT. btw, I dont think wave iii is over just yet. Looking for 540 at least.

agreed
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April 16, 2014, 01:15:53 AM
 #54

But as I see Bitcoin loves extended 5th waves, because of emotional traders.
So... What if this?  Cheesy

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April 16, 2014, 07:10:08 AM
Last edit: April 16, 2014, 07:39:44 AM by CryptoWaves
 #55

I made a new post. Head over to the site to check it out. I'll try to update more often if the chart needs adjustment. I was traveling and working over the previous weekend and I travel again soon, unfortunately.

http://www.cryptowaves.com/


It's great to see E-Wave counts and discussions presented by others. I try not to apply other people's counts to my charting, though.

Edit: Nice count there, chessnut  Wink
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April 16, 2014, 10:42:10 AM
 #56


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April 16, 2014, 10:55:14 AM
 #57

Just to point something out for those of you using tradingview. It is missing 2 days of data. The 12th and the 13th.

For comparison, here is a 1hr chart. The boxed area is not included on tradingview at the time of writing.

fr33d0miz3r
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April 16, 2014, 11:12:51 AM
 #58

Just to point something out for those of you using tradingview. It is missing 2 days of data. The 12th and the 13th.

For comparison, here is a 1hr chart. The boxed area is not included on tradingview at the time of writing.


 Shocked OMG. Thanks!
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April 16, 2014, 11:27:50 AM
 #59

yah I noticed something was wrong.....

so I think we just saw wave iv of III of the primary wave, hitting a bottom in that little wedge. super good support. we should top off wave III at maybe 550-560.

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April 16, 2014, 11:32:46 AM
 #60

yah I noticed something was wrong.....

so I think we just saw wave iv of III of the primary wave, hitting a bottom in that little wedge. super good support. we should top off wave III at maybe 550-560.

Look at how we are passing EMAs step by step  Smiley

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