On BTCUSD we can see that the price broke out of a bullish contianuation pattern and it has stopped above a small structure zone that if it holds it will push the price higher again.
We're in a Corrective Wave B (of a 3-part ABC) in Elliot Wave analysis -- Retesting 51k, 55k and 58k resistance will be inevitable.
KlejdiCuni
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@googooboyy, Yes, I agree with you. That is very possible.Thank you!
Phattyoshis
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@googooboyy, It's kind of funny how so many analysts are saying this, myself included. If the B wave moves up to a 90% retrace of the A wave down, we will most likely get a running flat correction, and the C will only dip down the 0.618 length of A wave, to around 47k before the bull run resumes.
googooboyy
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@Phattyoshis, We currently see a triangle/leading diagonal playing out in Wave A, so this could either be a 3-3-5 Flat or a lengthy 3-3-3-3-3 Triangle. I do expect BTCUSD to retest 60k in the weeks to come, presenting a double-top soon.
cgursk05
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absolutely beautiful. it followed your analysis perfectly