DIGIBYTE (DGB) Update: Sub-divided Waves
Digibyte has held up well so far to the recent crypto market downdraft. It used the donwdraft to put in waves (i) and (ii) which are sub waves of wave iii. If this is correct, then waves (iii), (iv) and (v) should cause DGB to rise.
A channel has formed in the price and price could bounce around between the two black lines. Wave (iii) obviously needs but out of the top line. Once it does, it would be a very nice confirmation of uptrend.
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BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Look at BTC. I was right with 300 $ up today. This does not look like a corrective structure...
Thanks for the note. Yes, I see and understand your wxy count. The occurrence of wxy is more common in cryptos than stocks, like the extended fifths. My primary count still stands as:
My bullish alt for BTC is:
Whether wave III is done or about to, I'm selling into this wave v of III. Fifth waves are ALWAYS my profit taking waves and have my profit sell ladder rungs in place from a week ago. My objective is to await Wave IV and ladder in my buys.
My wave C of Wave IV stop points are per the dotted horizontal black support lines. The first one is what BTC has bounced off of giving the $300 rise. If my count is correct, wave B is in progress. Reaching that first dotted line could then give a nice H&S Top pattern. Post this, down to $3,000 or so as next stop.
Yes, thank you for the update. I saw your post earlier today.
It could be, but this H&S does not look right to me. Can't say why. It's just a gut feeling
i like your blogs! Folllowing!
Teach me to fish. What is the best way to start learning E/W and its nuances (Dont have 15+ yrs)?
You need to know the basic structures, and the types of corrections that are possible. Then you can start to comprehend counts of other people. Once you understand those counts 90% of time, you can start your own counting.
Yes, those books are what I used. It won't take 15 years. Most likely a year or two to get proficient and start arguing with me on whether your counts are accurate vs mine. :-)
In the past @haejin has recommended a couple of books. See his post here: https://steemit.com/bitcoin/@haejin/s39bc-haejin-s-ta-book-recommendations-for-elliott-wave-and-chart-pattern-recognition
nice; upvoted and resteemed
Thank you!
Waiting for wave V , thanks for sharing your wisdom !