#Bitcoin #ta Small update, my upper target was breached, so the next one is 11600. It gets a bit "thin" up here, as price hasn't been up in this range for very long. This implies that further moves could be quite impressive. Grinding higher, looks good on the Daily and longer term charts. I'll update if anything changes.
@TallTim look up alessio rastani’s latest on the bear mkt rally hypothesis.. would be interesting to know what you think
@vbhide One more thing, he's a proponent of Elliott Wave theory.
EW theory is a backfitting exercise. Get your wave count wrong? Oopsie, redo your wave count.
It is not a predictive tool, and he bases his analysis on a failed "wave". Well, its very possible he could be wrong.
Prechter, the father of EW theory was famous for trying to short the indexes and he got slaughtered. Nobody likes mentioning that failure.
