Post
Topic
Board Speculation
Re: Analysis
by
exstasie
on 15/09/2017, 18:17:40 UTC
Does he always work on a linear chart?

I remember from the days of his 2013 "ping pong" chart that yes, he is fond of the linear scale. Here it does not matter, at least to the EW count. After a magnificent wave 5 (as expected), he expects a return to the region of the previous 4th. That is quite a painful correction, given that we would normally expect a Wave 4 to be closer to a 38.2% retracement, rather than 61.8%.

Under normal circumstances, if the Wave 4 went that low, I would expect truncation of the next wave up. But this is Bitcoin, where wave 5s melt your face off.