CryptoWaves - Elliott Wave Analysis Blog

[fr33d0miz3r]

it can easily grow 10x still.

nope.

[1714807492]

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[1714807492]

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[1714807492]

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[chessnut]

it can easily grow 10x still.

nope.

yeah it can... easily. do you realise how much money there is in the world?

[hashuniverse]

I dont' really see the point of using technical analysis when we know this is just manipultion

[fr33d0miz3r]

yeah it can... easily. do you realise how much money there is in the world?

I just know how many early adopters with tons of free bitcoins there are in the world. And their Fib timer is triggering NOW.

[chessnut]

I dont' really see the point of using technical analysis when we know this is just manipultion

this is an EW thread, not a TA thread. none the less, TA is the economical and geometrical necessity of buying low selling high. it does not lose significance during periods of manipulation.

[chessnut]

yeah it can... easily. do you realise how much money there is in the world?

I just know how many early adopters with tons of free bitcoins there are in the world. And their Fib timer is triggering NOW.

just like in all the last bubbles? yeah, a fib is about to trigger all right.... just wait till the stock market fib triggers and hundreds of trillions of USD needs a new home. where will it go? USD, gold, and a very small fraction (say half a trillion) bitcoin.

[fr33d0miz3r]

just wait till the stock market fib triggers and hundreds of trillions of USD needs a new home. where will it go? USD, gold, and a very small fraction (say half a billion) bitcoin.

Yes, of course, I waiting for it. But it will happen not NOW.
First we will deflate the bitcoin bubble, and then the stock and fiat bubble will burst and the new money will go to bitcoin. Be patient. Everything takes time.

[chessnut]

just wait till the stock market fib triggers and hundreds of trillions of USD needs a new home. where will it go? USD, gold, and a very small fraction (say half a billion) bitcoin.

Yes, of course, I waiting for it. But it will happen not NOW.
First we deflate the bitcoin bubble, and then the stock and fiat bubble will burst and the new money will go to bitcoin. Be patient. Everything takes time.

so you think it can expand 10x? ok.

anyhow, no point arguing about it now. the counts will be proven within a $30 move either way. Ill come back in a few hours.

[fr33d0miz3r]

so you think it can expand 10x? ok.

It can expand to $1M, but I'm not expecting new ATHs in the next few years.
I have revised my bullish long-term counts.

[Queeq]

none of them point to 266  

really?  

OK, so if it is ending diagonal, appearing in wave C...

Subdivides into five waves - yes;
Appears as wave 5 or C - yes;
All waves subdivide into zigzags - no;
Wave 2 does not go beyond the start of wave 1 - yes;
Wave 3 overlaps wave 1 - yes;
Wave 4 does not go beyond the start of wave 2 - yes;
Wave 4 ends within the price territory of wave 1 - yes;
We have contracting variety of diagonal, so:
Wave 3 shorter than wave 1 - yes;
Wave 4 shorter than wave 2 - yes in absolute value, no in percentage;
Wave 5 to be shorter than wave 3 - to be seen.

If it is leading diagonal, then:
Wave 5 to end beyond end of wave 3 - to be seen.
Instead of all waves being zigzags for ending diagonal, for leading only 2 and 4 must be zigzags.
So it's most likely a leading if we can interpret last rise (11-16th of April) as a zigzag.

Oops.

[fr33d0miz3r]

Wave 5 to be shorter than wave 3 - to be seen.

Oops.

Shorter or equal. If equal (or almost equal), then target = ~$260

[Queeq]

Edited previous post.

[fr33d0miz3r]

Edited previous post.

Yes, now I mean leading, not ending diagonal. It's only the beginning of a downtrend.

[Queeq]

What was that period in December then? I thought downtrend should be counted from the peak.

[fr33d0miz3r]

What was that period in December then? I thought downtrend should be counted from the peak.

Short-term correction before the last truncated ("failed") mini-wave up.

[keystroke]

just wait till the stock market fib triggers and hundreds of trillions of USD needs a new home. where will it go? USD, gold, and a very small fraction (say half a billion) bitcoin.

How long would you estimate?

Yes, of course, I waiting for it. But it will happen not NOW.
First we will deflate the bitcoin bubble, and then the stock and fiat bubble will burst and the new money will go to bitcoin. Be patient. Everything takes time.

[CryptoWaves]

New post up.

http://www.cryptowaves.com/bitcoin-usd-wave-count-update-april-22nd-2014/

Please be constructive with your posts. TA and EWave discussions are welcome - I feel they go hand in hand.

[chessnut]

New post up.

http://www.cryptowaves.com/bitcoin-usd-wave-count-update-april-22nd-2014/

Please be constructive with your posts. TA and EWave discussions are welcome - I feel they go hand in hand.

nice chart - I tend to agree, although surprising that the wave iv and V are taking such a long time to unfold. Bearish moves still have zero conviction and I have doubts that any dump could push through 470-480 floors.

Inverse head and shoulders is comforting - the right hand shoulder is the weakest price action for ages. a light breeze could push it to 540.

[Queeq]

As far as I understand, the "triangle" presented by Cryptowaves is not really a triangle as it must subdivide into at least five waves where each of them is a zigzag.

[maxll]

Doubts and arguments are far different things...