Critical Levels - EW analysis

[michaelGedi]

Yeah I've noticed the market maturing. Less emotional traders, more options for shorting, decentralisation etc. What's funny is I can see the participants maturing around me, as well as myself. It's interesting being a cog in a machine     

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[1714883658]

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[prophetx]

...You can imagine how different it might look the appearance of genuine demand compared to speculative demand (pure bubbles)

Genuine new demand would mean a massive new bubble, like the 2011 Silk Road one (the killer app for bitcoin).

So what you are saying is that drug buyers and sellers are not demanding a digital currency that is psuedo anonymous and easy to abscond with when left on dark web marketplaces by people who might be too high to bother to remove their magic internet money to offline keys.

[chessnut]

It looks like this count is playing out.




While two analysts I know are also counting this on USD exchanges (doesnt work as well in cny)




The two counts bear the same meaning and targets, they are not exclusive either. The one difference is that if this is an ending diagonal breaking, the fall will be swift and without significant retrace.

Assuming the most bullish case, that this flat correction is the wave A of a larger correction, possibly a triangle, we should at least expect a deep retrace, 50-62% towards $220-230. Although keep in mind that if this is indeed wave A, even though we should expect a deep retrace, it may bea bumpy and long ride.

Otherwise, assuming that the trend will continue having completed a flat correction, we should expect a full retracement and further yearly lows. It seems we are moving impulsively on the smaller time scales now so I am biased that this is the case.


Bumping this ^^

[Xiaoxiao]

What do you think about Tim White's bearish assessment?  He seems pretty knowledgeable and almost pinpoints the market.  But he believes bitcoin will bottom at $66!

https://www.tradingview.com/v/iWXmzaeG/

[chessnut]

What do you think about Tim White's bearish assessment?  He seems pretty knowledgeable and almost pinpoints the market.  But he believes bitcoin will bottom at $66!

https://www.tradingview.com/v/iWXmzaeG/

There is a count that has targets in that area that I like, maybe around $80, although it could also bottom at $120- $150 easily imo.

[michaelGedi]

What do you think about Tim White's bearish assessment?  He seems pretty knowledgeable and almost pinpoints the market.  But he believes bitcoin will bottom at $66!

https://www.tradingview.com/v/iWXmzaeG/

his target of 66 doesn't start until December 

[chessnut]

What do you think about Tim White's bearish assessment?  He seems pretty knowledgeable and almost pinpoints the market.  But he believes bitcoin will bottom at $66!

https://www.tradingview.com/v/iWXmzaeG/

his target of 66 doesn't start until December 

Hmm looking at the chart it looks like the end of June? a bit late imo but not unlikely.

I think we will be on our way by December.

[michaelGedi]

What do you think about Tim White's bearish assessment?  He seems pretty knowledgeable and almost pinpoints the market.  But he believes bitcoin will bottom at $66!

https://www.tradingview.com/v/iWXmzaeG/

his target of 66 doesn't start until December 

Hmm looking at the chart it looks like the end of June? a bit late imo but not unlikely.

I think we will be on our way by December.

going by the red boxes alone that's the 90 target, tried to skim the text again but was up pretty late last night 

You said previously something along the lines that there is a scenario with an extended flatline in price? A solid base if you will. I understand that is helpful psychologically for the market for new highs. EW doesn't give time targets though is that correct?

[podyx]

What about this?
https://www.tradingview.com/v/z9TNYC9s/
Did you change your mind?

[chessnut]

What do you think about Tim White's bearish assessment?  He seems pretty knowledgeable and almost pinpoints the market.  But he believes bitcoin will bottom at $66!

https://www.tradingview.com/v/iWXmzaeG/

his target of 66 doesn't start until December 

Hmm looking at the chart it looks like the end of June? a bit late imo but not unlikely.

I think we will be on our way by December.

going by the red boxes alone that's the 90 target, tried to skim the text again but was up pretty late last night 

You said previously something along the lines that there is a scenario with an extended flatline in price? A solid base if you will. I understand that is helpful psychologically for the market for new highs. EW doesn't give time targets though is that correct?

there is a situation where we are in wave B of a larger flat although I doubt it. regardless the medium term target is really at least 1300, or $220 and we should arrive swiftly over the weekend or maybe even Friday as it seems we broke through an ending diagonal.

What about this?
https://www.tradingview.com/v/z9TNYC9s/
Did you change your mind?

nope, that is still the count I am following.

[roadbits]

Seems that someone tried to get cheap coins

[Afrikoin]

[bri912678]

What software did you use to edit that image with, and was it freeware?

Those arrows are awesome and I like the slated text and whole look of it for annotating charts.

[Afrikoin]

What software did you use to edit that image with, and was it freeware?

Those arrows are awesome and I like the slated text and whole look of it for annotating charts.

Nothing fancy. MS paint + Imugr.

i wonder if people here have suggestions for other better web apps for this kind of thing

[Morecoin Freeman]

What software did you use to edit that image with, and was it freeware?

Those arrows are awesome and I like the slated text and whole look of it for annotating charts.

Nothing fancy. MS paint + Imugr.

i wonder if people here have suggestions for other better web apps for this kind of thing

You must be really talented at MS Paint.

[lebing]

I can do that too.

[RyNinDaCleM]

I can do that too.

unfortunately, that only works on bfx. China blew way past it and stamp...

[Afrikoin]

What software did you use to edit that image with, and was it freeware?

Those arrows are awesome and I like the slated text and whole look of it for annotating charts.

Nothing fancy. MS paint + Imugr.

i wonder if people here have suggestions for other better web apps for this kind of thing

You must be really talented at MS Paint.

moving on up now.

https://cryptowat.ch from today

[Afrikoin]

I can do that too.

unfortunately, that only works on bfx. China blew way past it and stamp...

[Afrikoin]

Could this be a 2 for another test of $ 300? i.e. 1, 2,3, 4, 5 of  a much larger magnitude?