My past analysis showed the below chart wheren waves i,ii,iii and iv were complete and had only v to go.
This current chart shows that wave v is complete, if not, a slight bit more to go. Elliott Wave states that after five waves, there is then a three wave retracement in the form of an abc (red) pattern.
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BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
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My problem with these patterns and numbers analysis is that the tech is never taken into account.
Verge announced a few days ago that the coming weeks we will see a Verge Release Marathon. So in the coming weeks new tech will be released.
Do you still expect to see the price of Verge drop?
@haejin would say "Elliot Wave analysis states that a reason or an event shall arrive to justify the forecast and not the other way around.". The more I look at the crypto space the more I feel this is true. As an example, EOS announced 3 days ago that its dev was ahead of schedule and also talked about a bunch of new features. Good news should have energized the market, right? The market responded by tanking.
Hey Haejin!
I had a quick question. If you were to have a trading bot what characteristics would you want in it? What would be an ideal trading bot in your opinion?
A bot that can count EW waves and there is one like that. Also recognize chart patterns, and there is one like that. But these bots can't learn and adapt, so don't do very well.
Other than that, a bot that can front run everyone else's orders just like what Goldman Sach does. But, that's unethical, not that Goldman or Government Sachs care.