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RE: Bitcoin (BTC) Morning Update: Alternate Counts
i think impulse counting is subjective. its your choice.
we can name it after all impulses are shown. just guess it before.
i think impulse counting is subjective. its your choice.
we can name it after all impulses are shown. just guess it before.
Where's the impulse?
Probably you meant wave counting.
whats difference between impulse and wave? can you explain it please? english is not my mother language
They all are waves. But impulse waves have specific Impulse Wave patterns.
impulse = Eliot wave count 1~5
do i correct?
Yes, it consists of 5 sub-waves. It is written in the link I gave earlier.
is this the support making most of those bounce backs?
I do not have the correct answer for this question. Because I'm just learning the basics of Elliott Wave theory.
But from what I understood, it is a human nature that makes it happening. To move forward or push market, you have to take a rest and "bounce back", take a breath and move forward again, take a rest (bounce back), another deep breath and the final 5th wave. Imagine how to move a massive block - you can not do it in one push - you need to do it in many small moves. So, why the market should be any different? 😉
Those guys who are on one side are stronger than the guys on the other side. In bearish market, that is right now, everybody is too scared and they have the power to take down the price buy selling everything. But there are already many guys who are greedy enough and want to go to the moon. They get together and make those brave moves that are seen as bounces. But they are not strong enough to move the whole market, so the market gets them down again.
@scorer have never read such an easy and interesting explanation. More power to you my friend