Early adopter Elliott Prechter introduced bitcoin to Elliott Wave
Theorist readers in September 2010, writing,
Ao Elliott Wave
Enhancements - The existing Auto Analyze Elliott Wave
feature has now been implemented as an Elliott Wave
Study that automatically updates as new bars become available.
The experts who do this are called technical analysts and one of the most popular tools they use is Elliott Wave
Theory; it's based on the mathematics of Leonardo Fibonacci.
In that context, the Fibonacci cycles are an appropriate tool for the Elliott Wave
Theory, where they can be used for local tops and bottoms of the various waves of a cycle or the Dow/Edwards-McGee Theory (details are provided in  and ) where they can give important confirmation of patterns which predict reversals or breakouts, or of doubtful consolidation patterns.
Although technicians have created dozens of methods for charting stocks, the modes most used by technicians include the Dow Theory, the McClellan Oscillator and the Elliott Wave
Theorist editor Robert Prechter is among the most "radical," most-quoted, and probably most-scorned among current market bears.
analysis would suggest that the Q2 futures are now on wave 5 of wave 3.
Robert Prechter, executive director of the Socionomics Institute, which studies social mood and its impact on social action, including the stock market and the economy, and publisher of "The Elliott Wave
Theorist," noted the study has a "correct conclusion.
Note: from an Elliott Wave
analyst's perspective, the market may be within wave iii, from the 17 October high at 1.
Now TA-1 is able to analyze waves and predicts the next extreme (high or low price) similar to Elliott Wave
theory of recurrent stock market price structures.
Outlook: Last week, I wrote that "a 4th wave triangle is complete at1.
finished lame when suffering a bumpy ride in a 575m open at Romford on Friday and misses his intended engagement in the fourth heat of the RD Racing Gold Cup at Oxford tonight.