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RE: IMPORTANT Coin Updates 2 (BTC, SBD, GNT, STEEM, XVG)

in #bitcoin7 years ago

When I studied Elliot Wave analysis many years ago, I don't remember seeing D->E waves in anything but a sideways consolidating move. In anything that was a clear correction followed by a resumption of trend, A->C was it. Your BTC analysis shows D->E waves in a downward corrective move, and I don't think that's right. If it is right, they should be labeled 1->5 waves and it would indicate a change in long term trend.

Disclaimer: This is not financial advice. I'm not a financial adviser and I am not an expert on cryptocurrencies nor investing. This is the amateur opinion of some guy having fun on the internet. If you choose to invest your money in anything I talk about, you do so at your own risk.

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Good point, yeah perhaps it's an ABC instead.