aibek

Bitcoin. Possible map for current correction.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
It looks like Bitcoin has entered the large consolidation period. It could take some time to evolve.
Wave A down was quick and strong and it could be over.
Now there should be the wave B correction of wave A and I highlighted the potential area of retracement with blue rectangle .
After it finishes we can see another dip in the wave C at least to the low of the wave A at 11160 level.
The projection for wave C should be recalculated once the wave B is done. Meanwhile it is highlighted with the red rectangle .



Comment: Countertrend consolidation within a large correction, Last wave up is underway.
It can hit anywhere between 15900 and 18600 and then drop.
Trade closed: target reached
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