ferGOD
Short

BITCOIN - Elliott Wave Double Three Combination

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
This correction might not be over. What I can say with confidence, however, is that we have already completed pattern 3-3-5 Flat Correction and that did not end the overall correction. Then we completed what looks to be a large ABC pattern or Wave X and is developing, did not end it. Some corrections become more complex with multiple Elliot Wave corrections together before the overall correction finally ends. A "Double Three" for example will complete one corrective wave pattern, have an X Wave, followed by another corrective pattern and then it's over. Or there is also something called a Triple three which has a corrective pattern, X Wave, corrective pattern, X Wave, and then ends on the third corrective pattern. What appears to have happened is that we definitely completed a 3-3-5 Flat corrective pattern and I'm assuming the big ABC that followed was the X Wave and we are now trying to finish up with the final corrective pattern. The Zig Zag makes the most sense at this point and looks to be developing now. The Zig Zag is a 5-3-5 type corrective wave pattern. Will probably wait and just add more longs to my position at the bottom of the Zig Zag if that plays out. Yes, very possibly around $8,500 ( BTC1! ) CME OPENING GAP ***

At any rate, like always, this is not advice, just one person's opinion of the current chart situation. I thought about raising cash at the top of Wave B but will probably wait and just add more longs to my position at the bottom of the Zig Zag if that plays out. Yes, very possibly around $8,500

I am not Bearish long term. I am a Bull of Bulls. A new Bull run will start with a very aggressive and impulsive 5 wave move up. We have not seen that yet. I just have not been able to line it up with a valid impulsive pattern yet.

Elliott Wave Double Three Combination
https://elliottwave-forecast.com/elliott...
Comment:
Trade active:

It looks like the pattern from charts are playing out very well. A 3-3-5 Flat, X Wave, and now followed by what looks to be a 5-3-5 Zig Zag .

This chart zooms in on the Zig Zag to show how the count may play out. If Waves 1, 2 and 3 are complete then we are now currently in Wave 4 (in construction). This Wave should complete soon, and then we begin grinding out Wave 5 over the next day or so. The final Wave 5, however, is what most people are interested in. I have two possible targets on this chart circled in retangle green. The first target is around $9,100 (As there is much support in that area and where many shorts may start to cover and many bulls begin scaling in long). Other point (retangle green) marks the CME futures GAP and target full fibo 1.618%, This seems like an obvious target. This entire complex corrective move plays well into the BAKKT futures opening on September 23rd. Once they have loaded up their rocket ships with all the cheap Bitcoin they can get, the BAKKT futures open, and at that point I would see no reason to try to hold back prices any longer. It could be, but it does not matter to me. I am not selling anything. I am only looking for lower opportunities to buy and add more contracts i my long positions. it doesn't change my game plan at all.

I am not Bearish long term. I am a Bull of Bulls.
Trade active:

I hope you're on the right side! LMAO
Average of 20 (MA / Weekly) next the target. It is a relevant support.

I'm ADD contacts at these levels
T1 ₿ 9100
T2 ₿ 8700 - 8500
T3 ₿ 7500
Comment:

Keep Calm! correction not completed! It's totally in play.
Possible BEAR Flag under development *** Target 11k - 11200

We have a strong SUPPORT at 9k levels. (MA21 WEEKLY - 8900 ~ 9k)
I really don't know (Time is the reason)
I will wait for additional contracts.
I still wait for the fractal (WAVE Y)

I am not Bearish long term. I am a Bull of Bulls.
Comment:

Same scam pump! same setup! same time! one month apart, what happens next? Whales fuck the game!
Comment:

Symmetrical triangle

down or up?

I am not Bearish long term. I am a Bull of Bulls.
Trade active: Here We Go
Comment:

Keep and CALM

I am not Bearish long term. I am a Bull of Bulls.
Comment:

Not a Triangle! Still a Double Three.

Primary Structure - Double Zig-Zag
Zig-Zag in Intermediate (W) followed by another Zig-Zag in Intermediate (X)

Intermediate (Y)- Expectations
Minor degree ABC sequence.

Short term
ENTRY 10800 - 111000 Level
why should not (y) above (w) ? Because Of C ?
I think
+1 Reply
ferGOD mimshin
@mimshin, Good analysis. I don't know, they are probabilities only. Thanks for sharing.
Reply
Perfect mate. Good job
+1 Reply
awesome charting!
+1 Reply
Great analysis. Thanks!
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TOP
+1 Reply
Excellent Analysis!
+1 Reply
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