2018 Cryptocurrency Crash (Elliott Wave)
- Thread starter 123abc
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Updated charts here:
https://uk.tradingview.com/u/stevepuri/#published-charts
https://uk.tradingview.com/u/stevepuri/#published-charts
How short are you?
5 foot 9 inches
Barring any wave subdivisions, there are now a sufficient count of waves to suggest the first Primary a-wave of the crash is over.
The a-wave decline from 06-JAN-2018 ought to be retraced by a b-wave bounce retracing up to 38.2% (11510) to 50% (12606) with the average being at 12058.
Elliott Wave Principle: Key to Market Behavior, Robert Prechter:
"b-waves — b-waves are phonies. They are sucker plays, bull traps, speculators' paradise, orgies of oddlotter mentality or expressions of dumb institutional complacency (or both). They often involve a focus on a narrow list of stocks, are often 'unconfirmed' by other averages, are rarely technically strong, and are virtually always doomed to complete retracement by c-wave. If the analyst can easily say to himself, 'there is something wrong with this market', chances are it's a b-wave."
Speculative and idealised Elliott Wave models indicative of probable price and structure, not timing as follows:
The a-wave decline from 06-JAN-2018 ought to be retraced by a b-wave bounce retracing up to 38.2% (11510) to 50% (12606) with the average being at 12058.
Elliott Wave Principle: Key to Market Behavior, Robert Prechter:
"b-waves — b-waves are phonies. They are sucker plays, bull traps, speculators' paradise, orgies of oddlotter mentality or expressions of dumb institutional complacency (or both). They often involve a focus on a narrow list of stocks, are often 'unconfirmed' by other averages, are rarely technically strong, and are virtually always doomed to complete retracement by c-wave. If the analyst can easily say to himself, 'there is something wrong with this market', chances are it's a b-wave."
Speculative and idealised Elliott Wave models indicative of probable price and structure, not timing as follows:
An analyst but not a trader!
Possible, but we are SURE about that crash from +19K till today.
All the rest is guessing and wishful thinking.
99% of all wallets are smaller then 10 bitcoins...that tells the real story.
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