What is the name of the bottom indicator showing selling volume? Thx kindly.
Fediculous
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@Oscarthedog, I assume you mean the oscillator. Its not exactly showing selling volume but more like the power of the impulse. And as the impulses get smaller on the oscillator, it indicates the sellers are depleting. Generally in Elliott wave theory, wave 3 is with the strongest impulse on the oscillator.
Its name is: EWI_LB (5,25,50,4,10)
EWI_LB is short for Elliot wave indicator (made by Lazy bear)
Oscarthedog
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@Nenko, Thank you so much. That was very helpful. Wasn't a big fan of EW, but I do like this oscillator. Thanks kindly!
Fediculous
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@Oscarthedog, Yeah, Elliott wave is too subjective on its own, but I like it for general overview and the fibonacci ratios work very well in crypto combined with elliott wave logic. Good luck!
Rocwood
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It bounced and we are on the upside of the wedge now. What do you think that will happen next? have we found the bottom, or the downfall will continue?
Rocwood
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Ok, so we broke downwards. What to expect now?
Fediculous
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@Rocwood, I actually entered ETC position which is holding pretty well. Look at my other post. As far as BTC is concerned I think we are just next to the V bottom. Still would hold if you have bought and I would buy now if you haven't.
Rocwood
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@Nenko, Thanks for the quick reply. Good luck for ETC, I mainly focus on BTC. Haven't entered yet. I'm not sure if this is the bottom. Prefer to wait this out a bit.
Rocwood
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Thanks for the analysis. Keeping an eye on it.
twocool
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@Rocwood, me too... i think in the next hour we should make a new low and hopefully break up.