jonasthomasen

15 minute BTCUSD Elliot Wave update

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Look at my previous post for the bigger picture. So far the waves are coming up just as predicted and drawn earlier. Let's hope big boy BTC             keeps it up.

Alright, here we go on the 15 minute chart. It looks like the second correctional wave (yellow) now is completed with an ABC-structure and were moving on to the first pullback on the 1st impulse wave on our smaller EW-structure to completing the 3rd wave in the yellow EW-structure. Expect a pullback to around 10.040/10.070 before next impulse wave. A bounce off of the 0.236 is not unlike either on these small waves either but we are very overbought on the Stoch RSI so we might go lower.

Reminder: These are very in depth short term analysis. They are very risky to trade on, so DYOR. Follow if you like!
Comment: The retracement only went as low as the 0.236 FIB line, and we are now heading towards finishing the third wave!
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