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Kommentar
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Have you a nice weekend!
Kommentar
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From the technical point of view, if the price remains above support at 2,953 in daily closing, wave 5 should approach around wave 3 (TARGET 1), and often wave 5, has the same wave amplitude 1 ....
@cryptoneur, Maybe 4100 if you're lucky. 3250 is an increasing resistance level right now. It's the trend line traced from 1826 to 2980. Dropping to that is very unlikely, below that very very unlikely. It's on a clear upward trend when traced from the low of 2980 to the lows on the 22nd and 24th. A little over 4100 is where that resistance line is right now. and it's increasing.
BiBiForex
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thank you!!
traderyo
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Wave 3 is the shorter (in days and percentage gain) than wave 1 and in elliott theory this is a rule that must not be.
there are exceptions like in comodities or high speculative markets (like bitcoin) where wave 5 is the longest and extended.
So is the count right? i'm not criticize, just asking your opinion
TheAnonymousBanker
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@traderyo, If you look closely, wave 3 is the longest
traderyo
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@SignalSwiss, sorry mate, but probably my count is wrong because i cant see the real beginning point of the wave one
if i start to count from 1000 we have
wave 1 950-3000 developed in 79 days 230%
wave 3 1800-5000 developed in 47 days 170% (too short in days and gains)
corrective waves 2 and 4 looks almost the same and usually the 4th wave is more complex
so or the 3th wave is still in development or we are in the 5th wave and we will get a very long extension
(we need only one wave to be the longest and the most speculative)
Ad ogni modo grazie Carlo per l'aiuto, ho scritto in inglese per farlo leggere anche ad altri :D
KevinWatson
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@SignalSwiss I don't like projecting ad hoc counts onto the market. but I agree with your outcome. The trends suggest it's going up. I wonder if all the traders on here that are bearish got caught in bear traps with the lows not being low enough for them recently. That's where I was for a week or so. Had to swallow some losses and stop trying to buy the dips so low.