Hello all!
Using the market geometry with pitchforks and combining the wave principles from the Elliot handbook I was able to forecast a possible scenario for the situation in the bitcoin space.
The largest pitchfork is a Schiff style, ranging from the '13 top to '15 low to 20k peek and puts a median line that interacts with the 3rd of the largest 3rd and the market bottoms of '15, a swell as the most recent drop ( as it compresses on top of the median ).
The second (schiff) pitchfork runs from 20k to our W (5k) and first X. It plays a role in the compression at in the most recent drop.
The crossing of the pitchforks at the median line of the secondary pitchfork and the .618 of the primary pitchfork gives us a possible target and projections of the market. With that being said we would also have a target at the 0 (red line) of the primary pitchfork. In conclusion, the low is going to be in sooner if not later.
updates to come
*thank you if you found anything in the post helpful* :)
Using the market geometry with pitchforks and combining the wave principles from the Elliot handbook I was able to forecast a possible scenario for the situation in the bitcoin space.
The largest pitchfork is a Schiff style, ranging from the '13 top to '15 low to 20k peek and puts a median line that interacts with the 3rd of the largest 3rd and the market bottoms of '15, a swell as the most recent drop ( as it compresses on top of the median ).
The second (schiff) pitchfork runs from 20k to our W (5k) and first X. It plays a role in the compression at in the most recent drop.
The crossing of the pitchforks at the median line of the secondary pitchfork and the .618 of the primary pitchfork gives us a possible target and projections of the market. With that being said we would also have a target at the 0 (red line) of the primary pitchfork. In conclusion, the low is going to be in sooner if not later.
updates to come
*thank you if you found anything in the post helpful* :)
Comment:
Full Chart
Comment:
2015 count for the low
Comment:
Look at how many times the 618 on the pitchfork comes in to play in the start of the bullrun
Look at how many times the 618 on the pitchfork comes in to play in the start of the bullrun
