supestv

supestv

Let's reboot subwave 5 shall we? So it seemed like subwave 4 of wave C of Primary Wave 2 ended yesterday, but it seems like the bulls held on a little longer - so I've updated the chart to show the new end. The Subwave 5 has started for reals this time. One thing Elliott wave gives us is the ability to detect waves and compare waves. The updated subwave 4 is...

supestv

I've Elliott Wave mapped this all the way from $7250. I've mapped subwaves of subwaves of subwaves. Not once has the Elliott Wave rules been broken. Right now we are on nanosubwave 1 of microsubwave 5 of minisubwave 5 of subwave C of Wave 2. You can see that even at the nanosubwave level it is obeying the 3 Elliott Wave rules. This leads me to believe...

supestv

In Elliott Wave, impulse waves follow channels with remarkable accuracy. You can see that all the subwaves of this subwave 5 end when they hit one of the channels walls. Convergence: 1. Elliott Wave: so far coming out of $7250 has not broken any rules of 12345ABC Elliott Wave. This current sub-subwave 4 is not crossing into sub-subwave 1, so even at this...

supestv

Btc has been following the classic 12345ABC Elliot Wave since $7250. About to finish microsubwave 4 of minisubwave 5 of subwave C of Wave 2. Get ready to buy!! Then we launch to $10k and never see these miserable 4 digit prices again!!

supestv

So far so good - on track to end Wave 2. The only question is where will subwave 5 end? There are many opinions about where this bear trend will end. I myself have drawn the same trend lines (in purple) that everyone seems to agree on, but they're really not that reliable. BTC will ignore trend lines enough times for you to lose your shirt. What I find more...

supestv

Drew this chart 24 hours ago with only minor adjustments for the end of Subwave 4 and 5. I only got thrown off after that pump and dump from yesterday afternoon. If we end subwave 5 above $7250, then we go onto start Wave 3 up. Otherwise the count is wrong. I expect a bounce off $7500-$7650.

supestv

Here are my thoughts. I think as an analyst, I'm okay. But as a trader, I need to work on my emotional bias. For the last 12 hours we have been on a trend upward, but is this an impulse wave up, or a corrective subwave of a wave down? IMO - if you compare this wave (which I labelled as subwave 4 of wave 2) with subwave 2, they look remarkably similar in...

supestv

First this is the first time I've seen such a long green candle on a corrective subwave. Second this is paired with a failed ascending triangle pattern. I'm very upset.

supestv

According to my Elliot wave, we just completed subwave C of Wave 2. The price hovered along the bottom of Wave 2 for several hours before mysteriously shooting up. This also happened at the bottom of subwave A of Wave 2. See green circled wave. I have never seen this kind of price behavior in a subwave of a wave going down. So I am going to say that we have...

supestv

Where will we finish correcting? Currently we're in the purple circled wave. The question is: are we on 1. sub-subwave 4 of subwave 3 of Wave C (of Primary Wave 2) (most bearish) or 2. are we on subwave 4 of Wave C (of Primary Wave 2) or 3. are on nearing the end of Wave C, and therefore near the end of Wave 2? (most bullish) I think the answer lies in...

supestv

Updated my charts. The light blue path was invalidated last night. I knew it just by looking at the path and the 30min RSI because it just didn't look like an impulse up wave. Nevertheless, because BTC chews you up and spits you out, especially when you're sleeping - I set my stop order buys in case BTC changes direction going up instead of the expected...

supestv

For the whole weekend, BTC was its own Schrodinger's Cat - both "alive" and "dead" at the same time: in this case both in 2 legitimate Elliot Wave counts at the same time, the sky blue one and the dark blue one. 1. Light Blue: we are on Subwave 3 of Wave 3 going up 2. Dark Blue: we are on Subwave C of Wave 2 going down. I counted subwaves of subwaves - and there...

supestv Updated 

2 Paths: one up, one down. Did we finish Wave 2 at $8250, or was that just the end of Subwave A of Wave 2, and we still haven't finished Subwave C? The sky blue line represents subwave 3 of wave 3 going up The navy blue line represents subwave C of wave 2 going down. Which one does it look like we're on?

supestv

When the price hit a bottom of $8250, it could either have been the end of subwave C of wave 2 and the beginning of Wave 3, or merely the end of Subwave B of wave 2. The price went up to $9070 and back down to $8350 yesterday - just shy of the bottom of $8250. The going down could have been subwave 2 of Wave 3, or it could be partway through subwave C of wave...

supestv

Lived in this horizontal channel for 23 hours, if it exits for more than 1 candle - we're heading down. This seems like bad news, but it's not. If it corrects to the 782 fib level ($7700) which BTC is prone to do ($20k -.$6k, $11.5k -> $7.2k), that means we're setting up for a wave 3 much higher, to allow wave 4 to finish higher than wave 1 ($9150). Just make...

supestv

While BTC is going sideways, I am trying to see if there is a correlation between the movement of the RSI between oversold and overbought (& vice versa) and the completeness of waves. It appears that a wave is complete when the 30min RSI moves from overbought to oversold or vice versa. Why is this relevant? Because the 30min RSI hit the bottom and is already...

supestv

BTC finally exited the horizontal channel (purple) but was still in the ascending green channel. There were many times you could have thought that BTC was on the way up again, but don't get caught. The only safe buy is at the bottom of the channel so long as you sold at the top. At any other point, you would have been unsure whether you made the right decision,...

supestv

See fluorescent green channel lines...