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RE: Bitcoin (BTC) Update: More at BitcoinLive!!
Hi Haejin, good to see ur vids again! about that, wanted to react on it as i'm more into the down going scenario myself too. The book elliot wave principle states on p51 that traingle occurs as wave B...? feedback on it??
hope to see some more of ur info back here! grtz
If this is a triangle in progress as a B wave than C=0.618A will take BTC below $0. It really doesn't fit here imo. And triangle should go in the opposite direction as the main trend. Since main btc trend is up, E wave should be down.
this triangle would be broken out at D, ur right about abc relation, fibs don't fit...
the main trend will always be up, since we do 5 steps forward and 3 back, here we are definately in a correction on bigger pic from ath, if you take start of parabolic jump in 2015 to ath, 786 fib is around 4.3k - 4.5k...
also not sure if B is traingle, that this fib relation a to c still expected to be normal...
w2 from ath could very well be a deep one, as often the deep wave 2 is like the end of the world...