Critical Levels - EW analysis

[foggyb]

If there were a mathematical formula to know the future price then we would all be rich.

If we all knew the future price no one would sell. A self-fulfilling un-prophecy, if you will.

[HeliKopterBen]

How does the 2011 $31.9099 high play into that?

lol Dunno =P maybe wave II grand supercycle =P gotta come from somewhere

If you add it in, you will see that we either just finished the 5th (1163) or the n3xt rise to new ATH will only be a 3 for sure
TV does have a script or something that adds Gox data from 2010 until the start of stamp to the beginning of the stamp chart

Blockchain has all data:

https://blockchain.info/charts/market-price?showDataPoints=false&show_header=true&daysAverageString=1&timespan=all&scale=1&address=

[chessnut]

Little option but down right now

[chessnut]

We have not had an impulsive count from lows, so I am sceptical about this rally occuring presently. However, if it shows strength and follow through going through 345, we should assume that wave v is complete, buy and hold until 450, carefully managing your leverage and risk.

[chessnut]

This rally has not given us a long signal yet and I couldnt advise going long right now, minor counts are pointing down from this point.

[chessnut]

Yes, this has become clear now. NOT  good place to be long. the wave V count is still valid and Iam expecting 260 lows still. great place to short for the experienced traders, stop loss at 347.

[chessnut]

BINGO. this legit ew count is unfolding and makes perfect sense. IV waves reside in the iv wave of one lower fractal, below 446 in this case. Iv waves tend to be triangles too. this is a great count. I am expecting $260 coins in the coming days as the correction is not officially over, needing a wave d and e to complete.

[oda.krell]

BINGO. this legit ew count is unfolding and makes perfect sense. IV waves reside in the iv wave of one lower fractal, below 446 in this case. Iv waves tend to be triangles too. this is a great count. I am expecting $260 coins in the coming days as the correction is not officially over, needing a wave d and e to complete.

Makes sense, but I doubt it's the right one.

By your count, ~350 is the top of the retracement from the $275 bottom. I expect more from it, $360, $380, maybe more, based on volume mainly. What happens afterwards remains to be seen, although I'm also leaning towards another test of 2xx eventually.

Let's come back to it in a week :)

[chessnut]

Makes sense, but I doubt it's the right one.

By your count, ~350 is the top of the retracement from the $275 bottom. I expect more from it, $360, $380, maybe more, based on volume mainly. What happens afterwards remains to be seen, although I'm also leaning towards another test of 2xx eventually.

Let's come back to it in a week

from an ew perspective, it makes so much sense. 360-380 could not be explained, passing into the territory of wave i. so far we have only unfolded in 3's, thats entirely what triangles are made of. wave iv's tend to be triangles, and reside in the territory of wave iv. Ill say no more, but definitely ill be watching over the week.

[600watt]

Will the 20000 bitcoin bitstamp sell order at $300 throw your calculations off a bit?

NO.

care to elaborate?

Panic selling always pushes the price as far as it can go, you can count on it that we are at tough support here. count how many bitcoins have been sold over the down trend. A small order like 20k bitcoin is easily absorbed over the exchanges.

I respect your attempt to find order in the chaos, but you can't account for the human element in your equation. At the time of this writing, a very serious vulnerability has been discovered in bitcoin. this attack is known at the FRONT attack, i posted a thread about it earlier. Its going around on the mailing lists. The attack is of minor concern, as it would require alot of money/bitcoin to exploit and freeze the network, but its very real, and very much going to be a factor into the bitcoin price over the next few months. Entities like NSA and Terrorist groups probably have the resources to exploit this attack vector, if they so choose.

u seriously imagine "terrorist groups" would rather spend thier money to attack a virtual currency (which is no threat to them) in the interweb rather than buy arms for the cause ? imagine a terrorist leader tryin to convince his fellow fuckers of this new strategy--

 

[kryptopojken]

False breakout or...?

[zby]

BINGO. this legit ew count is unfolding and makes perfect sense. IV waves reside in the iv wave of one lower fractal, below 446 in this case. Iv waves tend to be triangles too. this is a great count. I am expecting $260 coins in the coming days as the correction is not officially over, needing a wave d and e to complete.

Everyone now sees huge down waves (and me too - I must admit) - but now I think that after such big volume we'll have a little bit of breathing time and this should also mean some climbing. I think this must have been a fifth wave of a significant degree. Someone clearly thinks that 350-360 is the top and adds walls - but they get eaten just like the one at 300 was.

[chessnut]

False breakout or...?

..... It looks like a iv rising wedge, the impulsive behaviour is diverging which is not consistent with a hypothetical wave iii breakout. the price must stay under 360, and should not register any further highs before wave v comes. If we break a new high today above 354 then I would say yes breakout and buy.

[Odalv]

False breakout or...?

..... It looks like a iv rising wedge, the impulsive behaviour is diverging which is not consistent with a hypothetical wave iii breakout. the price must stay under 360, and should not register any further highs before wave v comes. If we break a new high today above 354 then I would say yes breakout and buy.

$355 now :-)

[kryptopojken]

False breakout or...?

..... It looks like a iv rising wedge, the impulsive behaviour is diverging which is not consistent with a hypothetical wave iii breakout. the price must stay under 360, and should not register any further highs before wave v comes. If we break a new high today above 354 then I would say yes breakout and buy.

Great thoughts, let's see what happens. Keep up the good work!

[bl4kjaguar]

False breakout or...?

..... It looks like a iv rising wedge, the impulsive behaviour is diverging which is not consistent with a hypothetical wave iii breakout. the price must stay under 360, and should not register any further highs before wave v comes. If we break a new high today above 354 then I would say yes breakout and buy.

Stunning accuracy; amazing! 

[farfiman]

False breakout or...?

..... It looks like a iv rising wedge, the impulsive behaviour is diverging which is not consistent with a hypothetical wave iii breakout. the price must stay under 360, and should not register any further highs before wave v comes. If we break a new high today above 354 then I would say yes breakout and buy.

Stunning accuracy; amazing! 

Graph after graph showing a fall to 260-280
stunning accuracy.

[bl4kjaguar]

False breakout or...?

..... It looks like a iv rising wedge, the impulsive behaviour is diverging which is not consistent with a hypothetical wave iii breakout. the price must stay under 360, and should not register any further highs before wave v comes. If we break a new high today above 354 then I would say yes breakout and buy.

Stunning accuracy; amazing! 

Graph after graph showing a fall to 260-280
stunning accuracy.

Markets always change; if you go with his last prediction, it was pretty good! 

[juve4v]

False breakout or...?

..... It looks like a iv rising wedge, the impulsive behaviour is diverging which is not consistent with a hypothetical wave iii breakout. the price must stay under 360, and should not register any further highs before wave v comes. If we break a new high today above 354 then I would say yes breakout and buy.

Stunning accuracy; amazing! 

Graph after graph showing a fall to 260-280
stunning accuracy.

+1
 I call all this bullshit

[oda.krell]

Makes sense, but I doubt it's the right one.

By your count, ~350 is the top of the retracement from the $275 bottom. I expect more from it, $360, $380, maybe more, based on volume mainly. What happens afterwards remains to be seen, although I'm also leaning towards another test of 2xx eventually.

Let's come back to it in a week

from an ew perspective, it makes so much sense. 360-380 could not be explained, passing into the territory of wave i. so far we have only unfolded in 3's, thats entirely what triangles are made of. wave iv's tend to be triangles, and reside in the territory of wave iv. Ill say no more, but definitely ill be watching over the week.

Welp. That took less than a week after all. ($370 top, so far.)

New main count in order?

P.S. Also, to separate myself from some of the more trollish posts in here: I don't question TA in general, or EW in particular. I was just skeptical about your count suggesting we'd top at around $350.