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RE: BITCOIN – Short-Term Update, Bias, & Key Statement for 3-22-2018
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BITCOIN – Short-Term Update, Bias, & Key Statement for 3-22-2018
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In my opinion the count is incorrect as wave A and D overlap, which is against the Elliott waves rules. But maybe it is better to hear the opinion of someone with much more experience than me in this. Cheers!
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The lettered "corrective" waves may indeed "overlap," in fact, that is the very attribute that makes them corrective. It is only the numbered "impulsive" waves that have strict rules with regard to overlap.
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Well, obviously I still have a lot to learn about Elliott Waves. Thank you for correcting me.
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We learn something new every day - that why they call us "humble students!" You are quite welcome my friend, thank you!
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My daily chart has a very similar count showing the possibility that five corrective waves down at minor degree may have already completed in marking the larger intermediate wave (4) down. In your assessment here, @leventuzun, I'd be inclined to move your (D) wave to the right by one pivot high fostering three corrective waves up to (D), and then as the rest of your analysis alludes, three waves down to (E). The question then lends itself; to what larger terminal is your (E) wave inferring? Hope that helps...
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Thank you very much for the corrective information
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