Post
Topic
Board Speculation
Merits 1 from 1 user
Re: 2019 Cryptocurrency (Elliott Wave)
by
sedactoo+04
on 25/06/2019, 21:34:54 UTC
⭐ Merited by exstasie (1)
Your complex scenario seems to be perfectly playing both price and time. I am not convinced for the bull yet.
I would love to see your thoughts and updates about it.
Thanks for your great work.

It's okay not to be convinced, but make sure to stay open to alternative theories. The biggest pitfall of EW analysis is getting married to a specific count, then continually reworking the count as it gets repeatedly invalidated. I struggled with this a lot years ago. Sometimes being "not convinced for the bull" really means "I can't see past my bear bias."

This is why it's good to always have at least two different counts you are tracking. Which count is ultimately correct may only be obvious in hindsight, hence the danger of becoming too attached to the wrong one.

My thoughts are definitely more in line with xxxx123abcxxxx's bull count. Of course, we won't be able to discard the complex bear correction scenario for quite some time yet.

you are totally right my friend... thanks for warning me. Unfortunately, EW has that downside. However the main reason why I am not convinced is the volume and altcoin movements. Of course I am aware of one of the biggest reasons for the 2017 bull start was the tether printing which we have again... But still the volume is not convincing for me...
But again I agree with marrying a specific count issue, that is one of my weaknesses too... I was so convinced that the bear has not ended so maybe still I am trapped in that phase.