BTC/$ - Bullish Elliot Wave Structure w/ Harmonic Reversal
Bitcoin looks like it has put in extreme low on June 18th @ $17.5k and subsequent higher low, on Oct 13th @ $18.1k. This could be the completion of the first wave of a primary/larger impulsive Elliot wave up.
A butterfly pattern marked the area of reversal for the completion of a sub wave 3. It appears that a bat pattern may mark the point of completion for the 5th impulsive wave.
I have placed channels on this chart that appear to match the trend.
Note that there are primary, intermediate, minor, and minute waves drawn on this chart, in various places to illustrate the basic idea.
A butterfly pattern marked the area of reversal for the completion of a sub wave 3. It appears that a bat pattern may mark the point of completion for the 5th impulsive wave.
I have placed channels on this chart that appear to match the trend.
Note that there are primary, intermediate, minor, and minute waves drawn on this chart, in various places to illustrate the basic idea.
Comment:
Note that the completion of wave 5 might coincide w/ the CPI report.