CryptoWaves - Elliott Wave Analysis Blog

[chessnut]

queeq, this is the problem I see. if this c wave is an impulse, how do we count iii? it is an abc. I was expecing a larger wave C now to cerca 550, but now we have a corrective abc, cannot be a primary. I'd like your ideas. stick with the original game plan?

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[RyNinDaCleM]

queeq, this is the problem I see. if this c wave is an impulse, how do we count iii? it is an abc. I was expecing a larger wave C now to cerca 550, but now we have a corrective abc, cannot be a primary. I'd like your ideas. stick with the original game plan?

This is one count that keeps my first count alive.


And there is this... The red is an alt ABC for the 4 of V


The number of diagonals leads me to believe that this is still corrective since a diagonal is a sign of weakness in the market. There seems to be too much indecision still.

[chessnut]

Great idea, it could be a leading diagonal. are you BUllish or bearish on this RyNinDaClem?

[RyNinDaCleM]

Great idea, it could be a leading diagonal. are you BUllish or bearish on this RyNinDaClem?

I added an edit while you were typing

The number of diagonals leads me to believe that this is still corrective since a diagonal is a sign of weakness in the market. There seems to be too much indecision still.

[chessnut]

ok so you are on the sidelines then?
seems like there is no motive to the market today.

[RyNinDaCleM]

ok so you are on the sidelines then?
seems like there is no motive to the market today.

I'm still in 25% until I decide what to do 
But yes, I'm waiting for some clear direction before I take a further position

[chessnut]

RyNinDaClem, if we broke 460 again now for no apparent news realated reason, it could be a strong long signal dont you think?

[Queeq]

chessnut, here is a guide I used about corrective waves: https://encrypted.google.com/books?id=lQ0OEmzM9tsC&lpg=PA30&pg=PA41#v=onepage&q&f=false

I am currently unable to make thorough analysis about what is going on, but I stick to the idea we deducted with RyNinDaCleM a couple of days ago. Briefly, it was pretty bullish, no matter if it is either a correction (which is not finished yet) or the beginning of new uptrend.

[RyNinDaCleM]

 

Building off of this count

[chessnut]

chessnut, here is a guide I used about corrective waves: https://encrypted.google.com/books?id=lQ0OEmzM9tsC&lpg=PA30&pg=PA41#v=onepage&q&f=false

I am currently unable to make thorough analysis about what is going on, but I stick to the idea we deducted with RyNinDaCleM a couple of days ago. Briefly, it was pretty bullish, no matter if it is either a correction (which is not finished yet) or the beginning of new uptrend.

Thanks for the link,

I agree with RyNinDaClems idea aswell, although when the market fell last night I hadn't realised the possibility of a i-ii as a leading diagonal. nothing much has happened since, it seems to me like we are not about to go a third wave down like DanV might suggest on trading view.

[chessnut]

BTCCNY

BFX


seems like descending diagonal.

[RyNinDaCleM]

5 down is not a good sign when there isn't an A/B before it. I can count it two ways, and neither have to be exactly forced, so it's a little ambiguous what lies ahead.

The bear


Da Bullsssss

[chessnut]

Yeah, possibly an ABC count too, so im not preparing for a iii wave necssarily. Huobi has chiseled a good looking inverse H&S, so the bullish count (iii up) to come is still a possibility. not much is certain at the moment.

[chessnut]

For the Bitstamp chart I think that the abc interpretation is definitely the most likely. either way it seems we need to test 450 at least if there is going to be another leg down.

[RyNinDaCleM]

For the Bitstamp chart I think that the abc interpretation is definitely the most likely. either way it seems we need to test 450 at least if there is going to be another leg down.

Yep, that's my target for the bear chart 2 of V of C

[chessnut]

looks like an over extended b wave, the spring has been coiled, and some fishy business happening on huobi. looks like a rally is set to reach 450 soon.

[chessnut]

did we ever look into this as a possibility?

while the iv wave is disproportionate, how could one force the alternative C wave count to be a fiver?

[RyNinDaCleM]

did we ever look into this as a possibility?

while the iv wave is disproportionate, how could one force the alternative C wave count to be a fiver?

With an extended 5th.


Imo, it seems less forced than that 4th. We were talking about this when that top came in and the divergences were present as either a 3 or C. Then we made lows to overlap the 1 and invalidate the bull count.

[RyNinDaCleM]

Yet another bear option.
Target around $415

[chessnut]

It is still a riddle to me. I think further upside is almost inevitable if this does not develop into a triangle.