Bitcoin Cash Update: Purely EW Plotting
Bitcoin Cash, purely on EW count, shows that abc (red) completed nicely in a textbook EW manner, prices exploded out of the hairpin price pattern to rise and complete Wave 1 (blue) and this also subdivided into waves i,ii,iii,iv,v (white) very nicely. Wave 2 (blue) finished the correction and the onset of Wave 3 is in progress. This onset can be subdivided to the most recent wave i (white) and currently completing wave ii (white) with a small abc (most recent red) correction. There are other alternative EW counts and I am award of every one of those possibilities. This is where possibilities need to be seprated from probabilities. The current count represents my primary probable count.
My prior blog on Bitcoin Cash had also shared a triangle abcde pattern. The wave ii (white) in the above chart should coincide with completion of wave e in this triangle. If so, it would be sweet!
https://steemit.com/bitcoin/@haejin/bitcoin-cash-update-a-new-pattern-perspective
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish.
This looks like good news I bought a whole Bitcoin cash at 208.00 USD I want to dump at around a good price Mark of 500.00 to 600.00 USD can you see it hitting that pretty soon I can see it but can you whats your opinion on that?
Let's take $50 dollars at a time :-)
However, yes, but further out in time, less reliable EW and for that matter any technique.
I'm sorry but what do you mean by 50 Dollars at a time ? And what do you mean by EW sorry for the amatuer questions haha thanks
Elliot Wave analysis (www.elliottwave.com) is most accurate in shorter time franes (days) rather than weeks. Given Bitcoin Cash at $310 or so, I usually look for chart or signal or EW count revisions after $50 dollar moves.
EW method can project to $600 is a few weeks but not as accurate as the shorter time because it is more prone to change given newer price developments.
Thank you so much doing something new everyday!
Poloniex and Breadwallet credit Bitcoin Cash their users on Monday August 14...
Should be interesting the next few days.
Let's see what happens.