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BTC to 15K USD - And The Importance Of Admitting When You Fail!Hello my lovely Crypto-Family! D4rkEnergY is back with a follow up on his bold prediction from yesterday, where he predicted that Bitcoin would reach 15,000 USD before April. Let me just say, that so far everything goes according to the plan. D4 has illustrated all the Elliott Wave counts for you. The Primary, sub-waves AND the sub-sub-waves. So far we had a bit more than a 50 % Fibonacci Retracement of the whole Elliot Subwave-Cycle, which now has become the 1st Primary EW! Everything is good, so far. And we now have a perfect opportunity to make a reversal, and go along with our EW3. If we don't manage to kick start this Wave and instead go lower, I have drawn how low we can allow our self to go before, this scenario will be unlikely or fail. If we go to around 61,8 %, the green box (10,200 USD), the retracement would still be perfectly healthy, and our scenario is still in play! If we go under this level (the yellow box) it would still be a healthy retracement according to Elliott Wave Theory, BUT seen from a psychological point of view, it would NOT be optimal, since it under these circumstances would bring too much FUD in the market. And therefore would D4s scenario be more unlikely to play out. And finally. If we go down to the Red Box (9,200 USD) we would have an Elliott Wave Failure, and this scenario is COMPLETELY dead. D4 has seen that a lot of people out there suddenly became bearish from one day to another, because we saw a price drop. That is human nature, but we have to look at this in a broader picture, which still make me bullish on BTC! If D4 is wrong in this scenario, I will be the first to admit it!! Remember: It's not how we make mistakes, but how we correct them that defines us! D4 loves you ALL <3 PS. I will fly back to our HQ in Seoul tonight, and make everything ready to Wednesday the 14th. The Setup is soon ready for you guys, so we finally can have this crazy party we all are looking forward too. I have now got more than 700 messages in my mail and inbox. Sorry, but I cannot answer all of them. Please be patient. I promise when the setup is ready everything will be good :) Remember to HIT that LIKE-button :)
BITFINEX:BTCUSD
by D4rkEnergY
116
Bitcoin Long - 4 hr chart for perspective - Wave 3 Underway?With so little market data it is hard to see the market longterm...there aren't any longterm action or patterns to observe! Still human behavior is human behavior, so we just zoom down to the 4 hour chart. We do know in ANY market a parabolic price action (like we saw with BTC) WILL see a big retracement. It has done that have eclipsed the 61.8 fib and coming very close to the 78.6. When it didn't touch 78.6, that was a good clue the retrace meant was over and we could put a corrective wave A-B-C and see if it came close. EW guideline for wave C is it most often descends into wave 4 territory of preceeding impulse wave which it has. So a case can be made that we are starting back up with a new impulse wave, of which 1 and 2 MAY have completed - as shown by the count. Set your stop below wave two, or if you are really confident of the new impulse, open a smaller position and set your target just below the start of wave 1 Target either way is 15,000
BITFINEX:BTCUSDLong
by AuthenticTrader
1
Philakone is MAD! Know your ELLIOT WAVE-Theory now! Dear Friends! D4rkEnergy is back with an educational post about Elliot Wave-Theory. Yesterday, Philakone, a famous crypto-trader and TA-educator, was calling out one of the Top Authors in here, because he could not figure out how to draw lines. Philakone wrote the following on Twitter: "How to NOT draw Elliot Waves. it blows me away... this guy has one of the highest reputations on tradingview, and his elliot wave is shit. Ignoring the most BASIC rule of elliot wave in zig zags..." D4 is not here to create drama. D4 is not here to get enemies. D4 is only here to spread love and wisdom. He wants everyone to have success, therefore he decided to make this basic guide to Elliot Wave Theory. It is pretty complex if we go into the smallest details, but let us keep it basic for now. We are here looking at the 30 min BTCUSD Chart. ELLIOT WAVE THEORY Ralph Nelson Elliott developed the Elliott Wave Theory in the late 1920s. He believed that stock markets was traded in repetitive waves and cycles. According to Investopedia this method gained popularity in the 1970s. Traders try to identify these waves and patterns, because it can help them predict the market. - 1 Cycle contains in total of 8 waves. 5 waves (1-5), which follows the trend, and then a correction pattern A, B, C. We also call this a 5-3 pattern. - Wave 1, 3, and 5 are impulse waves up - 2 and 4 are correction waves down - A, B, C are the correction As you can see, Inside every wave we can have smaller waves, also called sub waves. Basic rules: 1. Wave 4 always have to be above wave 1. 2. Wave 3 can never be the shortest. If these rules are broken, we have what we call an Elliot Wave failure. And therefore it is not a real Elliot Wave Cycle. This was a really short introduction. D4 encourage you guys to dig deeper into this! D4 loves you <3 And as always. Please follow D4 and give a LIKE, if you liked the analysis. It is much appreciated. Thanks in advance, my friends!
COINBASE:BTCUSDEducation
by D4rkEnergY
103
BTC -- When will the trend break?This is pretty self explanatory. I believe the bulls should be slowly accumulating right now. I'm certain they are. I am. We are starting to see long term trends clash. There are several more windows for the current trend to hammer, before ultra long trends get tested. Will the downward pressure be able to hold long standing trends? There are items in the news which could affect BTC's price. Keep an eye on the IMF meeting in Davos Switzerland. A positive, or upbeat piece of news from the global economic conference there could send a strong positive bias in the BTC market in an instant!
COINBASE:BTCUSDLong
by blessmywork
7
Short GBPAUD, Bearish Elliot Wave 5 to start soon. The whole structure of the bearish move seems incomplete. We could be starting the last leg of a bearish impulse that will target 100% retracement. Picture speaks a thousand words. By Elliot Wave of alternation, Wave 2 - Sharp, Wave 4 - sideways corrective moves. We could be at the final stages of a push lower, with an ending diagonal appearing in Wave Y, C leg of a irregular flat pattern. Plus point is that carry is positive, so we can hold without cost. Trade idea, Short at 1.751 Stop Loss : 1.762 (Since Wave 3 of an ending diagonal cannot be the shortest wave) Target. 1.45 area. (To be updated as we count the 5 waves lower)
Short
by melvinljw