Quote from: adaseb on September 17, 2021, 09:20:31 PM

What is this? Elliot Waves? From most of the TA that I used in the past, Elliot Waves was the least reliable one. It looked good when trading in hindsight however you have no idea which wave you are currently in the present. You might react too early or too late and the trade won't work out.

I think BTC will trade sideways for most of Sept and in Oct/Nov I see it making a big move. It will either be up or down, I don't see it trading at near $50K for long. $50K is still a great price and if it doesn't move soon, alot of the people who bought in the $20-$30K area will take their 100% profits and sell and move on to something else.

I had always thought that Elliott waves are very good at describing what already happened and not very good at predicting what it will happen because you cannot really know how big the movement is going to be beforehand, so whenever I see an analysis like that and then I look at it six months later they are always wrong, however those that use that theory to try to predict the markets then just adjust the number of waves for their prediction and suddenly they are right again in their minds.