Here's a lesson in the relation between - LEGS - Elliott wave fractals & fibs
what is a leg?
A leg in a market is defined by a pump up or a pump down IE upwave or downwave IE impulse up or impulse down
the recent leg we witnessed is measured & starts at 2931$ in price at the top of the cycle IE LEG we saw prices reach 19753$
Now we are all expecting a bounce in this market then we could either see ATH's this year or the other possibility is a longer consolidation period / short term bear market the truth is no one truly knows but I vote favor in the probabilities of bullish but everyone has different trading styles and opinions on the market & is entitled to.
for me bitcoin reminds me of the gold fractals as I have shown in my other graphs on tradingview - examples ---
so I think Bitcoin will reach new ATH's in 2018 but only time can tell I see sufficient volume for more ATHS we just need to watch the market structure in this bounce and get a better idea for the picture we are getting painted here with BTC .
Here's some more of my recent work on BTC
best of luck out there and keep staying profitable #HAI
@Dalin_anderson Some of these charts appear out-dated and thus confusing. We all know BTC fell below 6k, but only the first chart reflects that. Others don't. Also, first chart shows that on Wave 3 before Spring correction BTC will reach $13270 while other points to around $54000. This is a huge difference.
Could you clarify what your predictions are? To sum up, two most important questions are:
1. Will BTC go lower than $6000 now ("Last low" in "Gold fractal" chart) or will is bounce up from $7200 to start Wave 3?
2. What high are you expecting before Spring correction? $13270 or $54000?
Thanks!!!
High_Altitude_Investing
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@kryptos76, Already made the last low in the chart and is ready to make wave 3 up
& My target for the pump before the spring correction is 50,000$ (we will touch 13270$ then depending on how hard we bounce will determine if we conituiate to new ath's)
Peter_O
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Thanks @Dalin_anderson, that clarifies everything for me!
Mrbigman
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Never try to call bottoms or tops on BTC it. Will bit you in your ass.As you know there are 32 different ways this can play out this is a example of only 1.
robday1
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Nice work, mate. Personally, I’ll be taking profits on the next wave and then sitting back to see how Q3&4 develop.
@Dalin_anderson you called it mate, love your work
MaxDanley
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Dallin, with the exponential increase of technology each year, don’t you think super computers in the near future will revolutionize and render crypto currencies useless compared to the new technology being discovered each day? Expecially with AI improvements. Would love to hear your thoughts