Elliot Wave 5 not complete

BITFINEX:BTCUSD   Bitcoin / Dollar
Elliot Wave 5 still needs to form down to the 161.8% retrace around the $4500 area.I see major resistance and not enough volume to indicate a true reversal. You could make a strong counter argument but I think we have to let the cycle complete before speculating any trend reversals.
Looks like its breaking out of pattern
Your chart is probably the most accurate TA I have seen so far. Any update ? :D
OgiK PRO ClaudioTorresPrado
@ClaudioTorresPrado, Allowing the price to play out a bit before making any updates, I'll keep everyone posted...but I'm still expecting a pullback towards that 6k level and possibly down to $5k as the fibs suggest.
No one will let you buy their BTC for 6K.... its over :(

We are breaking though 9K becuase the market makers are filling the charts with traps. It makes total sense that BTC SHOULD correct again.. .but it aint happening
isnt this a valid count ?
OgiK PRO moshearg
@moshearg, no because your wave 3 is way too short, also wave 1 needs to extend to your wave point 3, this will then give you the proper size wave 3. I looked at all of these variations and none make sense but the one where wave 5 still needs to complete.
OgiK PRO moshearg
@moshearg, I have considered this formation also, but it seems invalid to me...we need the last leg to form to complete the cycle.
@OgiK, Why wave 3 is too short ? its more than 1:1 ratio with wave 1, that sounds good enough ? isnt it ? in my picture, #5 is more than 1.618 fib extension.

new picture - https://ibb.co/dwV6Y7
what do you think ?

the only thing that I see that #4 is overlapping #1
OgiK PRO moshearg
@moshearg, You're not necessarily wrong, I had the same setup as you in the beginning but pay attention the sub waves in the Wave 3 formation. Let me know what you think, to me your drawing then becomes invalid.

@OgiK, thanks for this dialogue, I test myself and learn from it.

you say we get wave 3 as the shortest,

but it isnt the shortest not in the 5subwaves of the 5th, and not in the big one - (24% to 37% difference)

what do you think ?
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Startseite Aktien-Screener Devisen Signal-Finder Kryptowährung Signal-Finder Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden