At the risk of sounding arrogant while simply stating the obvious: in this domain, if we include the need for prediction or forecast, even if in a loose sense, we are doomed to failure.
As @mav already noted, bitcoin’s adoption curve was completely unforeseeable. Nobody can predict if its price will double next week and nobody can reliably ascertain how much more mining that would attract and how quickly. It’s plain impossible because even if we can predict 99.9% of the price moves, the 0.1% biggest ones (that we can’t predict) will be more consequential than the rest.
So, we may as well not waste time on something that’s impossible and instead go into a direction that can at least theoretically work: reacting to changes in supply and demand in a way that would constrain the network to stay within a healthy range of parameters. I already mentioned something like this here:
Let’s also divine Saturn’s influence for good measure 
Have you seen proof (a record of trades) from anybody that they made money using that method, reliably, time and time again, year in and year out? If not, you have no reason to believe there’s any merit to Elliot’s idea. Basically, he was just another guy who thought he could find more information in the signal than there was really there.