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BITCOIN ELLIOTT WAVE NOTES MAY-JUNE 2016 - REVERSAL TRIANGLE
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More unqualified Elliott wave notes. Lotta work went into this shabby drawing. I could write/draw a thesis about it, but it wouldn't fit ;)
Intended primarily to help more experienced traders save time.
TV deleted my additional notes. I'll field questions (if anyone sees this).
I stole work from @Mr.Coins to make this chart. He provides actual, thorough analysis.
Intended primarily to help more experienced traders save time.
TV deleted my additional notes. I'll field questions (if anyone sees this).
I stole work from @Mr.Coins to make this chart. He provides actual, thorough analysis.
Nota
Err for clarity:This is a reversal triangle completing wave A of the correction of the next higher degree (ie transitioning to wave B), corresponding to the large jump we saw last week.
Nota
The post thrust behavior proves this chart to be in error and corroborates my alternative hypothesis:There's a running triangle starting at 39105/28 and ending at the bottom of this chart.
The implications are that we're now entering a wave 4 of a larger degree.
Cheers.
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