bkouassi89
Short

BITCOIN >>AUGUST 19<< 3 POSSIBLE TARGETS BEFORE A PULL BACK

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
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BTC is possibly finishing the 1st leg of its 3rd zigzag . Some believe this last downtrend is what will end the entire bear market. However we need to advance step by step. We will get a major pull back but not until we complete 5 nice waves that will end up on or between one of the 3 support levels highlighted in the graph. Those are estimates. It could also dip further in case we get an extended 5th wave.


Remember, my wave targets and channels are estimate target levels and are based on Fibonacci and Elliot Wave Principles. They are subject to possible adjustments. Timeframe was not taken into consideration when projecting targets.
DISCLAIMER: THIS IS NOT PROFESSIONAL ADVICE BUT MY PERSONAL REFLECTION OF THE MARKET.
Comment: Another possibility of where wave 4 could have ended. I have adjusted the channel accordingly. The degree would make sense.
Comment:
Comment: The setup is being stretched and could become void as bullish momentum is taking place
Comment: In case of a reversal, it would mean the 1st leg of the zigzag is done and a minor abc correction is now taking place before the last leg the zigzag. That minor abc correction could take us to the 7200 level or higher but the wave count would determine it. Here is a chart of that scenario
Comment: wave b could actually forming a flat and end a little lower
Comment: I meant to say wave b could actually be forming a complex zigzag as a flat doesn't apply in this case. Lots of complex patterns with Bitcoin.
Comment: When I zoom out I get this potential path to the end of the entire correction
Comment:
Thanks bro
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Seeing similar setup. Nice
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Hi, i think that the price will move down
+1 Reply
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