caused here double top on chart. Now area with vertical two blue lines is resistance area, based on 4h ermanometry calculations. I prefer of course 1 day charts calculations, but sometimes is worth to look at lower timeframes.
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This shape still looks like corrective abcd pattern but in many cases calculations like this, can be confirmed after huge amount of time. The usability of Elliots wave theory is low for high frequency trading. But with ermanometry support and resistances area helps to understand market waving little better (little because market makers will do theirs mess as always).
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From not distant past time - there is one example how ermanometric turning point can be 100% accurate (but it is not of course in 100% of cases, just like in case of resistance and support levels from classical or other technical anylisis):
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Look at the 101.63 vertical blue line (24 July). Beautiful top.
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Now clearly good bullish attack, so some ermanometric pivots (in blue) are now supports line for downmoves.
Sadly i'am here without any long position (beside that rest of my Bitcoins, that i hodl fro longterm run from my beginning in cryptosphere, but this not count to ermanometry strategy), but i must admit this wave is going to high for my expectations. But there must be some limits for this upmove for sure. I am curious if ermanometry can give answer where it will go.
Sadly i'am here without any long position (beside that rest of my Bitcoins, that i hodl fro longterm run from my beginning in cryptosphere, but this not count to ermanometry strategy), but i must admit this wave is going to high for my expectations. But there must be some limits for this upmove for sure. I am curious if ermanometry can give answer where it will go.
