Critical Levels - EW analysis

[chessnut]

Thanks for the update chessnut.

If we passed the $300 ceiling, what are the chances that we will say to the $200's level bye bye ?

Thank you.

This would be wave five in any case so no the visit above 300 would probably only be brief. Wave ii or whatever follows would keep us below 300 for a while after.

[chessnut]

I hope everyone had tight stops. This sharp breakdown could indicate there being a bearish triangle, meaning this decline would be a terminal move. the initial decine from highs was undoubtedly an abc.

[batou]

meaning this decline would be a terminal move.

What does that mean?

[WhatTheGox]

Price is just probably flat sideways until 2016 before block halving, maybe we'll start going up spring time or something. 

Bitcoin traders will have to get jobs at mcdonalds mean time

[Tzupy]

Kind of disappointing how BFX and stamp munted the triangle form bottoming under wave c but with good form in china there is no reason why wave iv cant bottom here in the west with the existing form. Call it a double combo but it doesnt really matter.

This was invalidated, so how about a new and more realistic one?

[JustAnotherSheep]

Perhaps this?



*edit: added (C) option

[Afrikoin]

Hi All,

Is anyone looking at the possibility of a failed 5th wave? What would one be looking for to observe if failure had occurred or not?

[Patel]

We're headed to the 240's during August

[RyNinDaCleM]

Hi All,

Is anyone looking at the possibility of a failed 5th wave? What would one be looking for to observe if failure had occurred or not?

It is possible as sheep shows but my version is a little different, but it really doesn't matter since it has the same conclusion. The real question is if it's a truncated 5th, was it C of (B) or only a 1?

This is my version of a truncated 5th and a couple of possible outcomes


The larger view to show why it would have to be such a long correction for the green count

[chessnut]

It slipped my mind the chance of a truncated fifth. Its probably the best count here.

[meh32123]

As i am new to Eliot wave theory, could someone please tell me whats wrong with this:

[Calabi–Yau Manifold]

It slipped my mind the chance of a truncated fifth. Its probably the best count here.

Any EW count for Finex ?

[Afrikoin]

It slipped my mind the chance of a truncated fifth. Its probably the best count here.

Any EW count for Finex ?

Lol

[Afrikoin]

Since i began following BTC markets, i've observed some interesting patterns that take different forms but usually modified templates of the same pattern. Of course now, i consider them corrective patterns from EW.

I just wonder if any of you observed this too (on different timeframes) and whether you have any more to add to this 'collection'?



Also, here is the first one i noticed back in October '14

[JustAnotherSheep]

Seems we (may) have completed 3 of 5 waves down, which for me begs the question of whether this impulse will be the entire final leg of the 2-year bear market, or just the start of it ((1) of V of (C))?
If the former, it may likely end as truncated/double bottom depending on how far the 5 extends. If the latter then capitulatory wave to lower 100's/double digits is still on the table, although (2) will probably need to retrace very heavily (ie to ~$260's) for the rest of the impulse to maintain reasonable fib proportions.



Curious to hear your guys thoughts on this, or any alternative counts.

[RyNinDaCleM]

Seems we (may) have completed 3 of 5 waves down, which for me begs the question of whether this impulse will be the entire final leg of the 2-year bear market, or just the start of it ((1) of V of (C))?
If the former, it may likely end as truncated/double bottom depending on how far the 5 extends. If the latter then capitulatory wave to lower 100's/double digits is still on the table, although (2) will probably need to retrace very heavily (ie to ~$260's) for the rest of the impulse to maintain reasonable fib proportions.

image snipped

Curious to hear your guys thoughts on this, or any alternative counts.

I was thinking in the case of a triple zigzag that your count is good for (a) of Z. Alternatively, this 5 down could be c of (b) of B where we will get a nice rally above 315 to complete a large B counter trend correction to the 152 lows' A.
When I get home in an hour or so, I'll post a chart of what I mean.

Edit: Got home faster than I thought. Red would be the former and yellow the latter


Edit #2:
I do think your 4 is too short (in time) as it is right now, so i could see a 50% pull back and a C up over the next day or two.

[Queeq]

Even though this method of counting waves is somewhat uncommon, I guess many could find it useful to get an idea of what Bitcoin is really doing (courtesy of too-bad).

[h3speros]

Solid analysis right there



Though there might be missing few LOL's from the middle

[maxll]

just lol 

[Monopoly]

Very far away from reality everyone see the price is in a downtrend ........