Since we have counts to support that the stock market wave 2 has topped, lets entertain the idea that Bitcoins wave 2 has topped as well. Refer to the bottom pane in the Bitcoin Nano count. It sports a subminuette wave 4 triangle, a minuette wave 4 flat, and a minute wave 4 zigzag. BTC Nano Update by BossWizard on TradingView.com Lets examine a blow up of each wave. … [Read more...] about Is a Bitcoin Zigzag Complete?
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A Long Bond Bottom
There is great potential that the 30 year T-bil futures have bottomed. This chart is a micro count version of the final 5th wave of primary wave 1. Depicted as a legal impulse consisting of an expanded flat correction for minor wave 2. Wave 3 is longer than wave 1, so the length rule is satisfied. Minor wave 4 is labeled as a contracting triangle whose internal C wave is a … [Read more...] about A Long Bond Bottom
The Dollar/Euro Double Zigzag
The US Dollar Index has been retracing an impulse that completed on October 3rd. The expected guideline retracement is the price territory of the previous fourth wave wave, which is almost exactly a Fibonacci 38.2% retracement. Wave 2 appears to be taking the form of a double zigzag that, when complete, will result in a third wave rally for the dollar. A Double Zigzag for … [Read more...] about The Dollar/Euro Double Zigzag
Bitcoin Small Timeframe Structure
It’s tough to count these small timeframes but I have two alternatives for the current structure. The top frame of the nano count suggests that wave 3 of 3 is already complete and the market is carving out an expanded flat pattern for wave 4 of 3. The bottom pane suggests more 3rd wave extensions are completing and the 3rd wave of wave 3 is still in progress. I will need to see … [Read more...] about Bitcoin Small Timeframe Structure
S&P 500 Wave 3 Still in Progress
The primary count remains that the index is retracing for yet a second extension. Keep in mind this is how Elliott cautions us to count as we do not want to miss an explosive move. The guideline is for price to slightly screed the previous fourth wave which isn’t far off. Keep in mind, this is only a guideline and not a requirement either way. S&P 500 Primary Micro Count … [Read more...] about S&P 500 Wave 3 Still in Progress