This my medium term prediction of BTC, of course its a long shot and the time line might take longer time. Remember this is the post that I do for reference purpose only. But if we see low of 8200 then this scenario might not play out. And yes if 8200 hold this can happen :)
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we need to see full candle close above 10522 for confirmation of trend change and see if what could be 4th wave correction is over
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it might be non standard corrective, ABCXABC lets see how this unfold, until i see more confirmation i still stand aside of adding more position
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I know alot of people are talking about Inverse head and shoulder pattern, and looking at this level whether it will go down or up, i have one another possibility that BTCUSD is forming a triangle, and would not break out to up side or down side for the near future. This is only hypothesis, we need to watch the resistance and support level to confirm the idea. For now with the volumes i see it goin side ways, rather thatn impulsive up or down, but thats my opinion my prediction. what we have to do is stay nimble and flexible and be ready to act when the market tell you so.
Finally some proper Elliot Wave counting. Nice one, I like!
Ronnaritta
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@ShaheenFahmy, thank you, please bare in mind this doesnt take into account of time axis :)
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@Ronnaritta, Yeah sure. PS: I think Wave 3 is the longest Wave. Otherwise, nice TA!
Ronnaritta
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@ShaheenFahmy, yes I would like to see that extended 3rd wave too, but i am not sure since the correction B is not very strong and we can expect a 1:1 AC leg. As said this is long shot. Lets stay flexible and see how it roll out. Please feel free to share your valuable opinion. Thanks, good luck trading :)