I don't really understand. These trend lines do certainly not meet in one point. How do you select that arbitrary central point in the plane? Moreover if we would use bitfinex or kraken, we would get very different result. This web can not reason sub $ precision. Not by long shot.
UncannyDeduction
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It's cooler when you actually do it before it happens...
mrblanc
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@LogicalDeduction, too bad you made a forecast only 2 weeks later saying BTC will drop to 1200$ which didnt even come close
UncannyDeduction
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@mrblanc, It's long term prediction. The points are only attractions points, and don't necessarily need to go there in my opinion. Eventhough me claiming to be the "inventor" of this it's a new pattern to me also and I don't claim to fully understand its mystical behaviour. But I can see it it's there, and saw it a long time ago. It can be found in all financial assets I've yet come to observe.
AzrulAzir
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@LogicalDeduction, in my line its around 2800 for second wave down, and last at mean line around 1439
UncannyDeduction
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@DianKemala, I would believe you if I saw a private chart using this method dated pre 22:d of August.
AltG
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So then how about this ?
kadufregossi
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Great analysis. As always.
Following this same reasoning:
If we really are in the B-wave of the correction as a good part of the analysts believe, the end of the C wave will only find some support close to $ 2,200.
What is your opinion?
telnemri
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Hi Diana, I tried to do the same thing to see whats next.. It's a shocking result, but is what I have done below valid? or did I do something wrong?
telnemri
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@telnemri, my point is, do you think we'll go down to the 1439 level!?