One of the rules about Elliott's waves says that it is normal for the correction wave, after a strong wave 5, to reach wave 4 that originated it. That's where we are now. So I do not see the need to run off to the top of the mountain. That is my point of view. Waves 3 and 4 are more easily seen on the 60-minute chart. Does anyone agree?
on December 10, 2017 I posted that the wave "c" would end near 12028.31. The wave came close, ending at 12050.00 on december 30, 2017. I would dare say that on the next wave (c1) we will get close to 20003.00. Who knows?
Wave A ending at 38% (14000.00) or going straight to 61% (10800.00) ? 14,000 points as a new resistance? S & P reaching 300% of 666.79 in 2008 (2667.16) next Monday, 12/11/2017. Between 100% of 666.79 and the fall of 2011 (27% fall) it took 6 months. Between 200% of 666.79 and the fall of 2014 (down 17%) took 12 months. In 2018 will we have a new fall in July or...
Between the intersection of the x-lines and the intersection of the prices averages, there will be the maximum of the price, falling soon after. In the upper left corner of the "x" prices always fall, climbing soon after.
"X" will never lie
Between the intersection of the x-lines and the intersection of the prices averages, there will be the maximum of the price, falling soon after. In the upper left corner of the "x" prices always fall, climbing soon after. So the fall of the BTC, for me, is normal. See examples at Apple Inc.
"X" will never lie.
Considering Fibo, 2997.43 is at the fibo level 361.8%, starting at 666.79 (lower level of the subprime in the S & P)
Still considering Fibo, 2667.16 (666.79 x 4) is at the fibo level of 61.8%, starting at 2997.43.
We can consider that the zigzag A-B-C starts at 2997.43, and ends at 2667.16???
The fourth wave obtained its minimum in the fibo level 161.8%.
Feasible?
Minimum in 2009 = 666.79 points
666.79 x 2 = 1333.58 (after this value, S & P entered the second wave.
666.79 x 3 = 2000.37 (after this value, S & P entered the fourth wave.
666.79 x 4 = 2667.16. End of the fifth wave? After this value, will we have a 10% drop? 20% ??
