BTC chart analyzed - ABC count going down - working on C wave...
market update:
BTC/USD:
Theres a few possibilites STILL!
No direction is clear on these time frames.
What I do see though is a ABC count. ABC zig zags = 5-3-5
A - 5
B - 3
C - 5
To me, it looks like were working on the C wave now which means were on the last set of 5 waves.
when you break this 5 waves into subwaves we can see that were *most likely* on wave 3 still and working 5th of 3 of 5 of C ( 5th wave to complete the 3rd wave of a larger degree of 5 waves to complete the C wave of a larger degree)
this count looks really solid imo and it links up with next big area of support.
even if we are wrong about this, lets assume we broke support... we will go the next big support (The white box highlight in pic 1)
so. thats it... I will try to take another look at this to see whats a strong secondary count. But for now, this is whats sticking out to me. IF we fall below $10,273 that will help this count in terms of validation. If we surpass $12,258 that would indicate that this count is no longer valid.
BTC/USD:
Theres a few possibilites STILL!
No direction is clear on these time frames.
What I do see though is a ABC count. ABC zig zags = 5-3-5
A - 5
B - 3
C - 5
To me, it looks like were working on the C wave now which means were on the last set of 5 waves.
when you break this 5 waves into subwaves we can see that were *most likely* on wave 3 still and working 5th of 3 of 5 of C ( 5th wave to complete the 3rd wave of a larger degree of 5 waves to complete the C wave of a larger degree)
this count looks really solid imo and it links up with next big area of support.
even if we are wrong about this, lets assume we broke support... we will go the next big support (The white box highlight in pic 1)
so. thats it... I will try to take another look at this to see whats a strong secondary count. But for now, this is whats sticking out to me. IF we fall below $10,273 that will help this count in terms of validation. If we surpass $12,258 that would indicate that this count is no longer valid.
