/biz/ - Business & Finance

its on the hourly btw

3 to 4 was also an ABC correction btw, just pointing that out

Why is your fib 0 start drawn in the middle at 8100?

>>8406306
I would say your close enough

>>8406306
this has been a corrective wave, not an impulse,
which means an impulse up is coming now not a correction but we only know that for sure after we see what happens after your C

>>8406306

>>8406347
I am experimenting this shit just today, i will get better in time as a NEET i have all the time to learn
>>8406375
but in this market, its impulsing downward, that is why my meme wave is 12345 down and abc upward

>>8406431
thats not how it works
we had a massive impulse downwards to 6k
now we are at least in an ABC correction from that
that ABC has A as an impulse up B as a correction down and C as an impulse up
so A and C cosists of 12345 and
B could be an ABC or ABCDE
here B turned out to be an ABC because of the impulse in wave C

>>8406481
wat

>>8406306
This is pretty good. I would say, make sure to draw your lines and end them at the point. The cross over looks a little sloppy at the bottom right. However, you are doing very well. You will be an expert meme line drawer in no time. Keep up the great work.

>>8406481
>>8406495
made a chart what I am expecting
time and value are off but those are the waves coming now or at least what I assume will come now

>>8406495
https://en.wikipedia.org/wiki/Elliott_wave_principle

>>8406495

>>8406306
>>8406359
>>8406407
>>8406481
>>8406519
Regardless guys, this is literally, not meming, a very critical support level for BTC.

If we fucking break 7600, there is no goddamn bottom. It either bounces from here, or we go to fucking hell.

I have a 25x long I opened prematurely at 7945, with a liq price of 7495

Will I be alright?

>>8406306
yes actually. Fibs say yes. Idgaf about your smelliot wave correction

>>8406519
Nice meme lines anon
Were your predictions about whats happened so far correct?

>>8406573
made over 600% in the last 2 weeks
and I think you are safe most likely
sometimes they let it drop below the support on purpose to accumulate
but everything points to us going up

>>8406306
I asked them if I would be right. But I never asked them if I would be alright..

>>8406633
Checked

Where/how did you learn ta?

>>8406597
>>8406633
made 600% in about 400 smaller trades
maybe I was just insanely lucky or it works
although of course not every trade was a win, if this drops below 7400 im out for sure
but I mainly focus on looking whats gonna happen the next hour not the next few days/weeks

Only real ta

>>8406670
I looked at charts and googled what indicators exists.
I have only been doing TA for 4 weeks but then I study maths at university which is supposed to be hard but I think its super fucking easy.

>>8406481
Thats my count too. Volume is still shit so prob going lower untill tuesday

>>8406674
After slightly modifying my ta, I have a fib level just under 7400, also touching the lower wedge. it might wick there to rekt you.

>>8406359
Can you really have back to back ABC's like that? Kinda makes them pointless if you can just keep saying ABC over and over

>>8406674
Usually last wave pierces the bottom of the wedge significantly with a huge red dildo, then comes right back inside with a huge green dildo. So you are gonna get rekt 99%.

>>8406670
I literally only read the Wikipedia article about elliott waves
I looked at the past 2 weeks and saw that BTC has been following those waves exclusively.
I thought this couldn't be the case but it kind of makes sense since Elliott waves rely on psychology (retards buying and selling)
Looking at other TA you find online you realize that those are the guys actually trying to make sense of the price action and they are retarded. Now think of all the people just buying and selling without using their brain.

If your looking for a place to start look at twitch cryptoworldnews.

Where is PoS/PoL? (Proof of Short/Proof of Long)
Reminder to not trust any TA fag that does not show his LEVERAGED positions that concur with his analysis.
If he doesn't trust his money with his TA it's because it's not worth a shit.
>"but I don't like gambling"
So TA is not that solid if it's a gamble for you then?
Anyone can hold, not everyone can net profits on leverage and avoid liquidation until cashing out, it takes real skills and balls, because you can not afford to be wrong or you'll lose all your money, unlike when you're not on leverage.

>>8406807
>Can you really have back to back ABC's like that? Kinda makes them pointless if you can just keep saying ABC over and over
yeah its called a flat corrective wave
its an ABC wave that is (3-3-5) not (5-3-5)

http://www.elliottwave.net/educational/basictenets/basics3.htm

>>8406826
Its also fun

>>8406826
german time

>>8406807
oh wait now I see what you mean
yeah the last wave looks corrective but its supposed to be an impulse
considering the other waves and that we were reaching the upper trend line I came to the conclusion that the wave count is most likely still correct only this one wave didn't quite behave how its supposed to behave because of that major trendline

I have been playing around with other scenarios but there is always something weird and I think this is most likely
But that's why there is always a chance its wrong

>>8406807
the orange 3 could aswell have been wave 5 and the correction after that an extended correction (ABC-X-ABC)
that would mean we will go lower in a few days but it would still mean were going up now
depending on if were going up in an impulse or in a corrective manner I can decide on what is correct

>>8406849
yea but on that picture you have 4 abc's next to each other, can you have 2 flats/corrections next to each other?

>>8406954
>>8407006
yeah from the orange 3 to 4 to 5 in the middle of the picture, there is 4 ABC's in a row. I think the last 2 would be part of an impulse

>>8407074
>yeah from the orange 3 to 4 to 5 in the middle of the picture, there is 4 ABC's in a row. I think the last 2 would be part of an impulse
the 2 ABC waves after the 5 are correct and are part of the flat correction (although not a really nice one)
but the 4-5 wave is supposed to be an 12345

I just keep them this way so I know there is something weird about that
This is my plan B which wouldn't be so nice but we would still be going up from here

>>8407163
>This is my plan B which wouldn't be so nice but we would still be going up from here
Blue C is supposed to be at the C/Y obviously
meaning we would be in a double correction now
which could even turn out to be a triple correction although they are quite rare

>>8407074
when I enter a trade I have the 5min chart open
as soon as I see something isn't as expected I exit the trade and recheck everything

>>8406481
if you look at this picture on the 1min chart I expected the drop we see right now
which is my original entry at 7720 was only small now Im going in big

>>8407163
If your orange starting on Feb 19, the ABC correction from the previous 12345 run up, shouldn't after C there be an impulse to the upside instead of another ABC downward?

This is what I had in mind, I hate the Tradingview tools so i just used paint

>>8407253
this actually looks good, with 3-4 having an ABC correction in there

>>8406573
yeah looks good and possible
however looking at rsi and the sharpness of last wave 3 + the major trendline were sitting at right now I dont think 5 will go lower than 3 and if you look at the waves in wave 5 you will find out early how low were going. Thats why I put started putting my entries at 7720
at least we can say with high accuracy that if you go long now you will be in profit soon

>>8407490
yeah but 3 has been insanely sharp dont expect much from that wave 5 to come
and on that timeframe you often dont see the ABC correction to much noise

>>8407567
thx just went short near the top of 4

>>8406573
rip

>>8408210
they let it drop below that support so people panic sell and get liquidated then they can buy it all just look at the order book on bitmex

>>8408301
It's quite the opposite. Manipulation makes it go a bit further up to liquidate shorts and then it goes down because that is the general market trend right now. This plus Elliot waves.

>>8407801
then went long at 7565 with a bit more at 7557 several second before this spike
I like this wave shit already

>>8408376
yeah its insane how it even works on 1min
but if the volume is low there is to much noise on 1min

>>8408345
well we will find out soon

>>8408506
yeah short term charts are always noisy as fuck, but BTC/USD moves so much faster than anything else

>>8408506
not sure how to identify the current movements, however

>>8409181
me neither

>>8409181
if there has been an impulse up and we are in a correction there has to be another impulse up only then we can impulse down
rsi looks like we had an impulse up and rsi looks bullish overall
volume low

>>8406849
A WXY pattern (3x3x3) is also possible, which would put us at the end of the correction. We may still get another wave if we were in a 3x3x5 flat, but since the 3rd wave was shorter than the 1st, that would mean the 5th wave down would be relatively mild (though a fall to 6k is still possible).
If we break above 9k, that means that the correction is over since the 4th wave can't violate the 1st wave. Since crypto is so volatile, I'm giving a lot of leeway even though the 1st wave ended at 8.3k.

Hey, remember that time when TA fags of /biz/ were right about anything once? yeah me neither

>>8409579
I'm thinking this correction has been an ascending triangle, ending at pretty much this moment

>>8409643
have a look at my 1min charts above

>>8407471
Note that two of the waves will tend to be close to the same length. Since 3 was so extended, 5 would probably be close to the same length as 1 (1k). It appears we've reached a bottom for now, so that seems to have been correct. It also makes sense for whales to stop just below 7.2k in order to cuck the people who had bids in that area.

>>8409710
*stop just above

>>8409710
I think on 1min this is an impulse with an extended wave 3
however, this is only my intuition, since Im not sure I closed 20% of my position with a decent profit looking to buy back lower if it drops

we are hugging VWAP at the moment

>>8409651
(this means I think that that point is where the bearish impulse continues)

I'm seeing a fresh bearish impulse starting here

>>8409892
and as I was typing this, the price plummeted.

>>8409925
>and as I was typing this, the price plummeted.
but look at the volume there is no volume to support this move not on bitfinex not on bitmex

>>8409954
I guess not as much, no.
Still, my guess would be a further drop slightly past 7.5k before a longer upward trend

https://www.strawpoll.me/15294975

another lower low lol

yeah not good but im gonna hold my position

>>8410215
new low incoming, boi

>>8406306
>all this fucking EWT
Holy mother of god neck yourselves.

You don't need a TA to understand it's going back to 6 or 5k (double bottom).

After that, sit and watch the greatest bullrun of human market history.

>>8410733
>wait for 6k
>see if it bounces up
>if yes buy
>if no don't
>if you bought set a stop loss at 6k
>kick back and relax

>>8411001
reality:
>wait for 6k
>it hits 6k
>you're too scared to do anything
>it bounces
>you wait
>it dumps down to 6.5k
>you still do nothing
>moons to 12k
>you fomo
>dumps to 1$, steven hawking hacked bitcoin before he died

>>8411025
I bet he used his wheelchair to mine bitcoin.