I do not want to know how many bought at the top because they thought we would bounce at $7,800. When I hear after a $100 bounce that Bitcoin is doing well, then I know: it will continue to go down later. I've told you all, the $7,800 range will not last because everyone expects it. We broke through this area at the first attempt and then later went a little higher to bring the people to the FOMO. This is exactly the same situation as in the past. The only difference is, this time it's an ending diagonal. They reversed that picture so people would not recognize it as you can see on my chart. But you can't hide anything from me. I see all patterns. And to all the people who say I do not know the Elliot Wave theory and should read the book again: I know the rules, but I do not use them. This theory may work in a one-way market (December Bull Market), but once you're in a correction like now, they all fail. Just look @TradingView, @Twitter, @Friends, how they all try to figure out the right count. What is happening? 99% of them are wrong. Everyone can use what they want and I do not want to attack anyone, but in my opinion you can't and will not make money with this theory. It is useless if you have to change your count again and again. In the end, some people talk about an Elliot Wave failure because they do not want to admit that they can't use this theory to determine the future. Just my opinion.
That's it from me.
Here is my final crash chart for those who are interested or not. Leave a like there or not:
Komentarz
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Look at this beauty: 1. Divergence 2. Broke trendline 3. Correction for confirmation of downtrend 4. Broke trendline of correction And all that after identifying the pattern. That's pure chart trading. Combine this with market psychology and you are the king:
Komentarz
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Result:
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My short term long trade over night for all who are interested:
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Komentarz
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And here is my short term short trade for today for all who are interested:
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Komentarz
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I don't want to see anyone else saying I can not trade. Also, I do not want to see anyone writing that I do not know the Elliot Wave theory, because I do not need it. I don't use what the crowd uses, otherwise I would make losses.
Dude, I have been following you for a while. Why are you so butthurt / full of yourself? It's not like you were NEVER wrong.
I think you're a great TA analyst, but at the same time, there's no need to mock underwater longs / commence the "I TOLD YOU SO"s
Zsolt28
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@deliciouspodo, Completely agree. While admitting that E55 is way better than average basement dwelling moonlambo analysts here, is that really something one can be proud of?
E557
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@deliciouspodo, Let me have some fun mate and take it easy :).
NewYork888
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They don't want to admit that EW doesn't work on crypto because if they do they can't sell their BS "VIP" memberships to new traders.
E557
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@london55555, Every market is the same, so it is not only crypto.
NewYork888
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@e55, Actually EW will work to an extent but only as confirmation on more mature names re MSFT INTC FCX etc But nor Crypto
IRCSAS
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great!!!!!
BullWick
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I'm bull and think we go up from here or low 7k level and below 4k won't happen again...this is my bias so i hope it's right and yours is wrong. but....
EW works. it's just way harder than most ppl think cuz it isn't just counting to 5 and reciting ABCs. There are guys that do amazing forcasting with EW...mixed with fib levels and chart patterns. EW provides precision entries.
E557
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@BullWick, First of all I thought you meant your name with ''I'm bull'' lol. Anyway, everyone has his own opinion and that's good. I respect yours and you respect mine, that how it should look like.
BullWick
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@e55, agreed. Those who stick to their view emotionally and attack those with opposing views miss the point of TV.
One of my favorite short-mid strategies is looking for spots where super bullish analysts agree with super bearish ones. the drop from 10k area was one such spot where everyone was calling for a pullback to at least mid to low 8k level and big bulls even had low 7ks which are still on the table. hence i went short to 8k.
but now we are getting to the point where bulls and bears disagree and u gotta show/pick ur bias. Being aware of the other view will still keep u from getting blindsided like those who only listen to like-minded views.
I'd say GL, but ur GL is my bad luck at this point so...hope u get stopped out :p
I think you're a great TA analyst, but at the same time, there's no need to mock underwater longs / commence the "I TOLD YOU SO"s