madwarrior

BTC loosing momentum; potential bounce off 7750 | ABC Correction

KRAKEN:XBTUSD   XBT / USD
The b wave (apart of the ABC correction in the white lines) appears to be topping near 9000 before either breaking through resistance or moving on to the c wave of the correction.

Following the c wave, we might see a bounce at around 7750, a support level formed earlier by the low from the impulse sub-wave iv. Failing to bounce before this level will expose lower levels and form a bearish trend .


Piggy-backing off philakonecrypto's idea here: https://steemit.com/bitcoin/@philakonecrypto/lesson-20-advanced-elliot-wave-wxy-with-feb-11-technical-analysis
Comment: After this correction, possibly another impulse wave?
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