Having previously based my BTC Elliot waves based on price movement, I now notice a time correlation that seems to be repeating. Almost to the day we have seen 3 consecutive Elliot waves play out and I'm now expecting a long awaited correction to the 0.618 retracement . I would hazard a guess that the 'B' wave peak will happen just prior to segwit2x planned for mid November, indicating a 26 day cycle of correction. I find it hard to fathom continued movement up from this point to make a new all time high but time will tell.
Please share your thoughts.
*Disclaimer*
This is only an opinion based on one method of technical analysis , and not intended to influence others' actions.
I recommend performing multiple methods of technical analysis before making decisions regarding buying or selling crytocurrencies.
Please share your thoughts.
*Disclaimer*
This is only an opinion based on one method of technical analysis , and not intended to influence others' actions.
I recommend performing multiple methods of technical analysis before making decisions regarding buying or selling crytocurrencies.
Comment:
Support has become resistance on the 30 minute chart. Also note negative divergence with the RSI.
