2018 Cryptocurrency Crash (Elliott Wave)
- Thread starter 123abc
- Start date
I know, right?
To be fair, this has to be the first one to call Bitcoin a bubble that is about to pop.
Literally fewer than a half million people called it at - $200, $1000, $3000, $5000, and $10,000 - so kudos to OP for being in a select group of people who may very well end up being right and broke as shit trying to short the biggest bull run in the history of the world.
Sort of like economists predicting 5 of the last 3 recessions.
Not an iota of EW in that pic.
Starting with W A-C corrective move never retraces a W 1-5 full impulsive move
The A-B-C labels aren't intended as corrective. Its an outright crash that is predicted, not a correction.
Basic EWT is that crashes are impulsive and impulse waves are 5's not 3's. Try again.
That's vanilla EW.
The proprietary method of the aforementioned charts (a little like NeoWave, etc) considers all corrections and crashes as overall A-B-C structures (although the A and C waves can consist of impulse 1-2-3-4-5 waves).
P.S. "Try again" —such lazy millennial quick speak, think they know it all, having done no research into the subject matter
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Proprietary, in other words, you pick and choose what you like and don't like. Talk about no research. And as for millennial quick speak I have socks probably older than you.
