Bitcoin is the rage among a lot of speculators. The crypto currency had recently surged, and just as spectacularly crashed! Any trader who got involved in that market needed all the help he could get to navigate it successfully. One approach is using Technical Analysis. More specifically, Elliott Wave analysis! Why? It is because this approach to the market is one of the few ways to anticipate what could happen in the future, and adjust one’s position size.
My recent article on Bitcoin has been published on Forbes. Here is the link:
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Sir I would like to have membership
For analysis news on bitcoin and Indian stock I am an investor
In both
Please guide
Shaji, Please click on the link at the top which says Become a member.
Ramki sir Many congratulations to you.
This is Fantastico
Sir,
As per my knowledge in a converging ending diagonal wave 1 will be greater than wave 3 and wave 3 will be greater than wave 5 further wave 2 will be greater than wave 4 but what you showed is some what different. Here wave wave 3 is greater than wave 1. Please clear my doubt.
Abhinav, There are no rules in Elliott Waves other than the 3 main ones. The rest is only guidelines.
Hi Ramki,
I have a general question, if an up trend is to reverse into a down trend, what is the valid wave labelling?
Is it wave 1-5 up followed by wave 1-5 down? Or do we need an ABC correction and X wave up, then the down trend.
Thanks!
KK, I urge you to read FWTFF carefully, as this fundamental doubt will be cleared there.
It’s been a crazy ride on Bitcoin since your post and revisiting the chart today, if my wave count is right then we have an extended wave 5 which may have been completed. The wave 2 of this wave 5 is around 5000-6000 !! Now if this hypothesis is right we may witness the power of the extended fifth wave.
“Magical Moments”, just this one chapter of FWTFF in addition to your blog helped me forecast one of the most closely followed market to date.
Btw DJI looking for a similar drop 21-22k coming.
Thanks for writing such an amazing book Ramki.
Thank you for posting your comments, Imran