Critical Levels - EW analysis

[Monopoly]

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).

We will see support line $170 again after this if bitcoin has Power for rising it will show itself ...........

[1714785172]

1714785172

[BitcoinNewsMagazine]

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

That is a valid Elliott Wave count. masterluc believes we are in running III right now.

[Calabi–Yau Manifold]

Chart above is rekt now

Thread is pretty dead - Chessnut gave up with thread?

[BitcoinNewsMagazine]

Chart above is rekt now

Thread is pretty dead - Chessnut gave up with thread?

Nothing is wrecked unless the Jan. 13 $152.4 low on Bitstamp is taken out. Unless that happens masterluc's EW count is as valid as any, more than most.

[Afrikoin]

Chess nut where are you? 

I miss all your charts and forecasts, RESPECT

[sidhujag]

I hope he didnt lose his shirt from margin

[coinableS]

No I don't think he "lost his shirt" trading on margin. He's still trading and still active. Just two days ago he posted this chart on tradingview, looks like he's just focusing on other forex, which isn't a bad idea when bitcoin keeps going sideways. https://www.tradingview.com/chart/USDJPY/bXESeJdn-USDJPY-EW-Analysis-triangle-formation-continues/

[sidhujag]

No I don't think he "lost his shirt" trading on margin. He's still trading and still active. Just two days ago he posted this chart on tradingview, looks like he's just focusing on other forex, which isn't a bad idea when bitcoin keeps going sideways. https://www.tradingview.com/chart/USDJPY/bXESeJdn-USDJPY-EW-Analysis-triangle-formation-continues/

Oh man, now hes fighting an uphill battle

[Chef Ramsay]

No I don't think he "lost his shirt" trading on margin. He's still trading and still active. Just two days ago he posted this chart on tradingview, looks like he's just focusing on other forex, which isn't a bad idea when bitcoin keeps going sideways. https://www.tradingview.com/chart/USDJPY/bXESeJdn-USDJPY-EW-Analysis-triangle-formation-continues/

Dropping a USD/JPY chart isn't very helpful, he can do a lot better than that in regards to bitcoin. No wonder it wasn't posted here by him. No offense Chess if and when you see this.

[bloods-n-cryptos]

Any other active EW posts?

[madmat]

Any other active EW posts?

Bitcoin is dead mate, deal with it.

[prophetx]

fontas posted a chart that btc is going to the moon in about 18 months...

[Check-0]

link please ? 

[prophetx]

link please ? 

i didn't want to post it b/c it's so out there i almost laughed

https://www.tradingview.com/chart/BTCUSD/P8X2S1MW-Bitcoin-s-Future-Shape-13000-and-120k/

[Check-0]

thanks for link mate !

[coinableS]

link please ? 

i didn't want to post it b/c it's so out there i almost laughed

https://www.tradingview.com/chart/BTCUSD/P8X2S1MW-Bitcoin-s-Future-Shape-13000-and-120k/

Yea that's pretty out there. Not the first time I've seen someone hint that we are in the lull similar to 2 years ago before the run up. I don't think it will repeat with such accuracy, but I wouldn't mind if it did

[eboard10]

I tried playing with Elliott Wave theory on LTCBTC and the medium term prospect looks considerably more bearish than Bitcoin. Still, a huge buying opportunity lies ahead for Litecoin. FWIW.

LTCBTC - Patience Pays $$$

[RyNinDaCleM]

I tried playing with Elliott Wave theory on LTCBTC and the medium term prospect looks considerably more bearish than Bitcoin. Still, a huge buying opportunity lies ahead for Litecoin. FWIW.

LTCBTC - Patience Pays $$$

It is impossible, on the longer term, to count LTC/BTC. It's somewhat of a derivative that is dictated by the BTC/USD price and LTC/USD price. To an Elliott Waver, that chart looks corrective since it has so much overlap, too.

[eboard10]

I tried playing with Elliott Wave theory on LTCBTC and the medium term prospect looks considerably more bearish than Bitcoin. Still, a huge buying opportunity lies ahead for Litecoin. FWIW.

LTCBTC - Patience Pays $$$

It is impossible, on the longer term, to count LTC/BTC. It's somewhat of a derivative that is dictated by the BTC/USD price and LTC/USD price. To an Elliott Waver, that chart looks corrective since it has so much overlap, too.

I don't see why it would be impossible for LTCBTC to follow a count. Since Litecoin, like all other major cryptocurrencies with large enough volumes, is inexorably tied to its big brother, it will follow a similar pattern and the LTCBTC trend should therefore be bound by the general EW rules.

I do agree, however, that because LTCBTC trades in much smaller volumes than LTCUSD or LTCCNY, the price won't necessarily follow the Fibonacci retracements and extensions (in the commentary of the article linked above, I did mention that the price could go lower than the 94% retracement). Still, it should follow the general rules of impulsive and corrective waves (5-3, a-b-c etc.).

[JustAnotherSheep]

Still, it should follow the general rules of impulsive and corrective waves (5-3, a-b-c etc.).

Like Ryan said, yours already broke the rules for a valid impulse as both your (4)-(1) and 4-1 overlap, which afaik is only allowed for an impulsive count within a leading or ending diagonal.