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Beemaster
May 2, 2018 5:16 PM

BTCUSD will be make double bottom Short

Bitcoin / DollarBitfinex

Description

BTC is going waves 4 of wave C in 30M.
You can buy BTC in the range: $8667 - $8800 and sell it will reach target $10400

Our analyzes are based on the Elliotts theory to determine the main trend, the targets of waves based on Fibonacci, Resistance - Support Zone . Also, we use indicators like EWO , MACD , MA50, Ichimoku , BB to confirm the end and start of a trend.
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Comment

in 30M

Comment

It is going triangle wave.
Comments
davec83
It's possible, in essence we are seeing the same scenario playing out, but I see 8900-9000 as a target.

Beemaster
@davec83, good chart
BrittTheIsh
It’s my understanding that B waves can only contain 3 waves, not 5. A can contain 3 or 5 waves and C will always be 5 waves. With this understanding I think your counts are off.
BrittTheIsh
5-3-5 is a Zigzag, and 3-3-5 is a Flat.
Beemaster
@BrittTheIsh, • Wave B can be any corrective structure (In case triangle wave)

Zigzag
Elliott Wave Theory Zig zag

Guidelines

• Zigzag is a corrective 3 waves structure labelled as ABC
• Subdivision of wave A and C is 5 waves, either impulse or diagonal
• Wave B can be any corrective structure
• Zigzag is a 5-3-5 structure
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