Bitcoin Elliot Wave Analysis

2019년 7월 3일

Long term Elliot wave structure:


Primary degree = Orange
Intermediate degree = Purple
Minor degree = Light Blue

It appears that price is currently completing the 7th of 13 minor waves within the primary B wave:
en.wikipedia.org/wiki/Elliott_wave_principle

Pale blue Fibonacci retracement placed with 0 at $20,000 and 1 at $1,000.
Pale blue Fibonacci speed resistance fan placed with 0 at $20,000 above ATH, and 0 at $1,000 in mid July.

Orange Fibonacci retracement placed with 1 at $0 and 0 at $14,500.

Dark blue vertical Fibonacci time zones placed with 0 and 1 at the initiation of minor waves 3 and 5, respectively.

Minor waves 1-2 and 3-4 were complex, indicating that wave 5 is likely to be simple, according to the rule of alternation.

2019년 7월 5일

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Minute degree EW count (dark blue) suggests further downside in a 5th wave before beginning the Minor B wave (light blue).
Measurement of 1 and 3 waves show potential support on orange 0.382 fib. This would allow price to breach liquidity pool below 9K.

2019년 7월 6일

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Minute wave could reach the 0.618 fib (pale blue) and daily 77 SMA (orange) at $8300. Could occur tomorrow (Sunday 7th)

2019년 7월 7일

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Intermediate degree prediction (purple) unchanged.
Minor degree prediction (light blue) adjusted.

2019년 7월 12일

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Volume does not support IHS and wave pattern is unusual, but everything else lines up with a target of 13647 by around the end of the week

2019년 7월 16일

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wave 1 and 3 were complex (both were made of two smaller waves), which means that 5 should be simple (just one wave). However I think that the B wave is going to be complex, which is why it has defied traditional EW formation so far.
If this is correct, then we have seen the end of the single wave 5, but there is still a second B wave to go. I don't believe this second B wave is likely to break above the top of the 5 wave, but I think it is likely to break above the previous B wave.

2019년 7월 23일

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2019년 8월 1일

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