We might move down to 8.5k with a break downwards, making this a leading diagonal A & B wave, or a break up making this our second wave with a target around 10-11k Leave a like if i helped :)
Elliott waves might be hard to count, but it is the trader's job to lay out the possible scenarios. The third wave of larger degrees is almost always extended. I failed to think about that when looking at this corrective wave. It is now clear to me where we are going. Up until we test the top of out diagonal, and then if that were to break up, a leading first wave...
BTC Triangle correction forming as either the 2nd wave or 4th wave(4th wave triangle scenario not drawn). Good short entry here! Leave a like if i helped! :)
Sorry for last idea, did not take into consideration the EW count on smaller time frames, clear fifth wave was there, just didnt think there was any discrete count.. so didnt bother. Bearish divergence still shows, triangles breaking downward, bearish pressure is there, just when will the bulls let go?
If we cannot move below the A wave; this count will be proven wrong. Targets of 0.382 retracement of larger wave 1, and then 1:1 extension of wave A. Look for an entry point during the correction we will see after this impulse wave (the one that just formed) This is a healthy ABC correction, and RR is very nice. Leave a like if I helped! MACD also crossing on...
Elliottt wave analysts have been searching for the "C" wave.. and with our bearish divergence, we have found it!! Shorting bitcoin to usd. Stop loss at the top of divergence ( will indicate it has created a higher high), and target at the normal ratio of a 0.5 retracement of our first leg.
Target: the dotted diagonal resistance from 20k SL: breakout of the leading diagonal Short at the end of the "E" wave.. wait for volume confirmation, and then put your bets down! Leave a like if you found helpful :)
Bear Flag forming, aggreement with my idea posted last.
retracement wave incoming. buy to sell at the diagonal resistance and/or breakout