You are viewing a single comment's thread from:
RE: Technical Analysis on Bitcoin: Are the Bulls Back?
I'm just learning, but even at this level I have seen a lot of different ways of counting waves and all are technically correct. I believe that it is almost impossible to predict the correct path for micro-waves. That's why they are not so important for me.
Depends on the wave. Wave 1 is typically difficult to predict. Wave 2 is a little easier. Waves 3 , 4 and 5 are generally the easiest to predict, as you've got prior movement on which to base a target.
The problem is, there's a great deal of manipulation taking place, making crypto the single most difficult market to predict at the moment. Elliot wave is great in an "honest" market. Crypto is anything but right now. That's why I spend so much time on other technical indicators. Still, elliot wave is a decent tool to use in combination with others.