BTCUSD EW Analysis (Including Most probable retracement Target)
Count is largely based on Godly's EW count. But I have included some intrinsic changes based on careful analysis. Mostly in the subwaves of the triangle.
Overall retracement type is a double zig-zag.
ABC - ABCDE triangle (X) - ABC
Most Probable target for end of retracement: 4640
If that breaks down, 2870
Overall retracement type is a double zig-zag.
ABC - ABCDE triangle (X) - ABC
Most Probable target for end of retracement: 4640
If that breaks down, 2870
Comment:
Seems like waves 1 and 2 of the (C) wave are done:
Comment:
Current count of subwaves:
Comment:
Correction most likely comes to an end here
pinned through the 76.4% support.
If we form a lower low now, it would invalidate the target and the next support will be 2840 (85.4% mark)
pinned through the 76.4% support.
If we form a lower low now, it would invalidate the target and the next support will be 2840 (85.4% mark)
Comment:
76.4% support didn't hold.
Approaching 85.4% line now.
Approaching 85.4% line now.
Subwaves of the waves A and B of the (B) wave of the triangle