Get started

Elliottwavecorrection

Why We Look At Log Scale!For waves that occur over long periods of time looking at a normal arithmetic price scale lacks the ability to normalize exponential growth. Under these circumstances, by looking at the logarithmic scale we see a different perspective on how price has been moving. This also makes it easier to plot waves. ___________________________________________________ Here's the analysis on the largest scale, it seems to me that BTC just completed wave 3, which makes sense the growth was ridiculous during this wave By that same token, our current correction seems relatively small in relation to the entire graph which still makes me believe that wave 4 is not yet completed Finally, this also means that we will be beginning wave 5 upon completing our correction and ideally we should see another hefty move up ____________________________________________________ *Warning* IF this is right then when we finish this next wave we will have completed an entire 5 wave cycle and it would be followed by a massive correction
BITFINEX:BTCUSDLong
by NotGemini
14
The Correction is just getting started Starting from the last significant correction that BTC had, we moved up for over 2.5 years so my assumption is that a 4-month correction is relatively short. Instead, it wouldn't be absurd to assume that we are far from finishing this correction. With that being said in terms of Elliott waves, this correction has already retraced a significant portion of the move up making it unlikely that we are in a flat or triangle correction. The only thing left would be a zig zag correction which plays out as a (5-3-5). From what I can see we are nearing the end of wave 5 within A and B should be starting soon. In the chart, I have 2 possible end-points for wave 5 one of which is around 4500. Then by looking at the channel we have a decent idea of when this wave should finish playing out
BITMEX:BTCUSD.P
by NotGemini
Euro/Yen Bullish Triangle CorrectionAfter the bullish 5 wave pattern, it looks a little bit like a corrective triangle pattern has begun to form. D Wave. With the completion of a double top pattern at the 136 zone, the D wave of the triangle pattern will have met its 61.8% Fib Level requirement along the triangle trendline. E Wave The location of the projected 61.8% retracement from the D Wave endpoint seems logical because that is where price can be expected to run out of momentum Only time will tell
by DreamLife_Obi
What Is Corn Up ToOn a bigger timeframe, it looks like we are forming a Contracting Triangle. These will generally have a .618 relationship with one pair of internal waves or more. Currently, we have already had the relationship occur once, meaning that it doesn't HAVE to happen again. However, assuming that it does we have a good idea of where things are headed. I Included another wave of a higher degree to give a better frame of reference as to where we are. Let me know what you guys think
BITMEX:BTCUSD.P
by NotGemini
Top of Wave 1 to 2, including targets for wave 2 and 3Well first two targets got hit pretty well. RSI, Vol, MACD and EMA 55 show us, that we hit the Top of wave 1 and are on a way down to 2. Target of the wave could be between 0.382 and 0.5 Fib Ret. I got my buy-orders stacked between 8000 and 8100. Target see on Chart. Bulls and bears are still fighting on the way down, we might retarced higher and wave 2 might be shorter, anyway I shorted and wait for new signals. As always: This is a hobby for me. I improve fast, keep on learning and reading. Feedback and ideas are always welcome! I am not a financial adviser, please do your own research and let me know if we agree on targets and so on. I need people who correct me, tell me why and what if I analysed something wrong. Thank you! :)
by FloTi
3
BTC - Now entering wave 3, going to 6.3k USD.Giving you an update to our previous bitcoin price prediction, in which we discussed how bitcoin might be entering its fifth ((5) time scale) and final momentum wave down. Looking at the bitcoin price right now, it seems to be that the correction wave 2 has ended, showing us a beautiful zigzag pattern ((a)(b)(c)). Even though timing might be off, the prediction of 9800 USD was absolutely spot on! It seems that we are now entering momentum wave 3, which ends near a price of approximately 6300 dollar. This is also a support area and our previous low from February the 6th. MACD and RSI both have room to go into lower regions. One note, the green trend line in the MACD oscillator has yet to broken downwards. Prices could bounce and a close eye on the price is required. Original post:
BITSTAMP:BTCUSDShort
by DeWit
4
Bitcoin #BTCUSD - correction about to complete?Let's take a look at the Bitcoin technical picture at the H4 time frame. The market is about hit the projected target zone for the wave (c) of the wave (2) and now it should bounce form it in order to test the local technical resistance at the level of $9,434. The market conditions are now oversold, so it should help to bounce in the short-term. Nevertheless, if the zone between the levels of $8,184- $7,703 is broken, then the next technical support is seen at the level of $7,464. Green scenario - wave 3 to the upside progression. Red scenario - decline to the swing low development.
BITSTAMP:BTCUSDLong
by sebastian.seliga.7
10
Litecoin Tumbling, calling a Three Wave Correction!Called a Failed 5th Wave on $LTCUSD about six hours ago via twitter, just trying to plot out where it might tumble down to for some buying opportunities. My guess is the C correction wave will end around $187 range. Green box shows where I'd plan to ladder in a long for a wave up. Should be fun! Note: I am very new and learning. Do not take this as advice or anything other than practice. Please feel free to let me know what you think. Any constructive criticism is welcome! - Foul Mouth Muggle
COINBASE:LTCUSD
by foulmouthmuggle
7