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RE: Bitcoin BTC - Feb 28 - Detailed Technical Analysis - Morning Update - Neutral - Indecision

in #bitcoin7 years ago

I'm an Elliott n00b, but if you zoom out to the one day chart, doesn't the ABC emerge...?

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I think that to validate it you have to count the subwaves within the ABC wave to verify that it is indeed that way. So go to a lower time frame and see if you can find a 3-3-5 or a 5-3-5 structure within that ABC.

I am also a noob, but I don't think you would use a one day chart. Long term use 1hr-4hr chart, phil changes the time frame constantly to verify counts. I just made a post yesterday and I was using the 24 hour chart, I got it wrong cause the first wave was less pronounced with the 24hr chart.