See related chart. Correction played out exactly where it was expected. Just adjusting wave (4) and subwaves to a WXY combo.
Anticipating a shallow corrective triangle for wave (4). Alt count would be an ABC flat. Either will follow with another push higher in wave (5) marking the first impulse of a larger degree move in BCH.
Up to this point I was correct in my judgement that Bitcoin Cash (BCH ABC) would win out over Bitcoin Satoshi Vision (BCH SV). As I come across more information, I believe it is plausible Craig Wright could prove himself to be one of the original co-creators of bitcoin i.e. Satoshi Nakamoto. Time and lawsuits will tell. medium.com www.ccn.com With that said,...
Marthon Oil looks like a solid candidate for a wave ((iii)) of (iii) advance. The decline from Aug '14 to Feb '16 is a clear 5 wave impulse. The impulsive decline fits nicely as wave C of a larger A-B-C flat pattern. The recent price action making a couple higher highs and lower lows with the context of a completed larger corrective pattern suggests this is a 1-2...
For those following the Bitcoin Cash Fork these charts show the price action following the fork. Left chart: "Bitcoin Cash ABC'"vs "Bitcoin SV" since the start of the fork Right chart: "Bitcoin Cash ABC" vs "Bitcoin SV" & BCH/USD price on the Poloniex exchange Great live fork conversations on YouTube BITCOIN HASH WAR PT.1
Following an extended wave (5), BTCUSD found support at the wave 2 closing low of one lesser degree. 3 major touch points at this support line and previous resistance From 2018 June - July BTCUSD price has formed a reverse head and shoulders pattern Bigger picture, a corrective (W)-(X)-(Y) Elliott Wave pattern looks to be complete indicative of much higher...
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As the title suggests, this is a conservative count for bitcoin's big picture with Elliott Wave Analysis. There are many possibilities for extension and, of course, counting a top is possible too. It's hard to even call out a highest probability count at this time. Just based on the number of possibilities I see, I think we are more likely to see more upside.
It's been a while. I humbly must admit what I thought was too soon and highly unlikely a couple years to nearly 6 months ago has unfolded. There were plenty of sound reasons then to cast doubt on bitcoin's upside technically and fundamentally. Bitcoin is proving to be antifragile which I like. It's probably too soon to label minute waves, for example wave (v),...
Count is invalid if invalidation lines are hit. Target for wave ((iv)) is the .382 fib to complete an expanding flat pattern. Look for RSI to diverge in the fifth wave of (c) of ((iv)).
See the related idea below for more commentary. This is a bigger picture wave count for WEED that is clearer to see using a line chart. According to this count, just shy of validation, we are in wave ((iii)) of 3 of (1) of ((5)). Lots of upside!
$WEED is just shy of invalidating the bearish count (red). Things are looking bullish for WEED based on the blue Elliott Wave count. A three wave zigzag (A)-(B)-(C) completed in June and the initial build up of 1-2 waves is what we see now. Additionally, the changing to a negative social mood supports from a socionomic perspective the repeal of prohibition. This...
Nice setup for a fifth wave rally. We have a five wave (also see log scale) impulse followed by a clear three wave decline. Two impulse waves have followed with a clear 5 subwaves on the monthly chart in the third wave. The last two years have been a sideways consolidation - wave four - building a base for the fifth wave rally. Primary target $179 Low target...
Part 2: An expanding flat corrective pattern is unfolding at cycle degree. Primary wave ((B)) is nearing completion. What is depicted here is an extreme simplification of several possibilities. The following wave, primary degree wave ((C)), will unfold as a five wave impulse. The target would be returning to the bottom of primary degree wave ((A)). It could be...
Part 1: A bullish five wave impulse at cycle degree scale is nearing completion. Completing a five wave cycle marks the top of a supercycle degree wave I. The target would be a 3 wave cycle degree decline to the previous fourth wave of once lesser degree, the zone of cycle wave IV. *The pattern in which the decline to next major low is met will determine which...
My previously published chart called that a series of 1 & 2 waves had developed. Price looks like it is now dropping in third wave fashion. There's as slight adjustment to the count which makes this wave (3) of ((3)) of iii of (iii). In the news: Bitcoin Miners Miss the First BIP 148 “Deadline” bitcoinmagazine.com but, price was already dropping... it's as if...
A big mistake in Elliott Wave analysis is doubting yourself that a pattern developing would be so big that your bias says "it can't" or "that's an extremely slim possibility" and you rule out the count. This is a possibility to the down-side right now. Keep in mind several forks are highly likely in 2 weeks! We can't predict what that means for price action....
After a clear 5 wave decline at small degree we can now see a clear 3 wave correction. The zigzag retraced to the .618 fib. The hourly candle closing at 6:00 UTC should provide us some confirmation that the correction has ran out of steam and it's time to pull the trigger to sell. Based on the Elliott Wave count and 61.8% retrace I am confident selling after a...