Descriptive Elliot Wave Theory;
The "RED" zones, are danger zones. Likely take profits, or averaging in/out of a position before entering danger zones is ideal.
ALL of this pending that the 6150 holds during this wave two. OR. Wave 1.
Also, I am not egotistical enough to consider the fact, that we are still going sideways, and we do not have our "impulse" wave 1 just yet.
These theories help me map out what I am thinking, as bitcoin does what it does.
If I have a rule that is broken, or something does not make sense. I turn to another indicator, or method that I am comfortable with.
Examples of those are; horizontals, trends, etc.
I would like to see us "touch" and bounce off this 6150 level. To complete wave 2.
A nice wick down to 5890, 5900, or even 6000. With a strong reversal. Would be PRIME!
^ This, does not cross the beginning of wave 1. Therefore we would successfully have Waves 1 & 2!
If we break the bottom of wave 1, I will re-evaluate. However this theory, these waves. The predictions, all will follow the same mathematical algorithms.
Now that I have understood the technical and the fundamentals (not all of them, there are LITERALLY too many too count. Scenarios to count.) I will be able to predict the further moves of successful Elliot Wave.
If this is not the "impulse wave 1, and we have yet to see it." I will know. Thanks to Philakone. You are a hell of a guy.
Thank you for taking the time to read, to give this a chance.
Cheers, fellas!
The "RED" zones, are danger zones. Likely take profits, or averaging in/out of a position before entering danger zones is ideal.
ALL of this pending that the 6150 holds during this wave two. OR. Wave 1.
Also, I am not egotistical enough to consider the fact, that we are still going sideways, and we do not have our "impulse" wave 1 just yet.
These theories help me map out what I am thinking, as bitcoin does what it does.
If I have a rule that is broken, or something does not make sense. I turn to another indicator, or method that I am comfortable with.
Examples of those are; horizontals, trends, etc.
I would like to see us "touch" and bounce off this 6150 level. To complete wave 2.
A nice wick down to 5890, 5900, or even 6000. With a strong reversal. Would be PRIME!
^ This, does not cross the beginning of wave 1. Therefore we would successfully have Waves 1 & 2!
If we break the bottom of wave 1, I will re-evaluate. However this theory, these waves. The predictions, all will follow the same mathematical algorithms.
Now that I have understood the technical and the fundamentals (not all of them, there are LITERALLY too many too count. Scenarios to count.) I will be able to predict the further moves of successful Elliot Wave.
If this is not the "impulse wave 1, and we have yet to see it." I will know. Thanks to Philakone. You are a hell of a guy.
Thank you for taking the time to read, to give this a chance.
Cheers, fellas!