Some people didn't think a correction was possible. But here we are, couple of days later, and bitcoin made a much needed and healthy correction so far.
It seems we are currently working on the 5 of the C wave which could end around the 61.8% fib levels. That would be nicely above wave 1 , so valid according to Elliott rules
I will be looking to long when 4 is in...
Some people didnt believe a correction was going to happen.
Well here we are, a couple of days later and BTC sure did a nice and healthy correction.
And...It looks like the correction almost done ?
From what i see we're putting in the 4 of the 5 of the C wave.
Logical target for 4 seems to be around the 0.618 fib level which is still above the wave 1 high, so not...
BTC is (almost) done with its 5 wave impulse up. Time for a correction. We can already spot bearish divergence on the daily RSI, so perhaps there's a small push up left but then its time to correct. If this plays as a 1-2 of a higher degree Elliott wave the most probably place for the 2 to end would be between to 50%-61.8% fib levels
EUR/USD is about to put in the final E of the triangle
When E is made we can expect a push down equal to the width of the entire rectangle to make the 5th
Stop is just above the C giving us a nice RR of +/- 9:1
5 waves completed now busy with an ABC correction. Looks like the A wave is already in and we're now busy making the B
Will short once B is completed..
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BTC/USD is reaching the 50% fib retracement from previous swing lo-hi
Top could already be in, but I do expect another small push up to somewhere between the 50%-65% fib levels
From there it looks like we are in a good position to start going down towards the $5.3k region
5 waves complete forming a bigger 1 wave
Now retracing down to make the bigger 2.
Probable target for the 2 would be the 50%-65% fib level
The A wave looks to be finished and we’re now retracing back to create the B
Target for B is between the 38.2%-50% fib levels
is still correcting and busy completing the 4th. Probable target for the 4th would be the 0.382-0.5 fib levels
From there we can expect it to finish the impulsive wave up with a 5th wave
After the 5th wave we get a correction, again to the 0.382-0.5 fib levels of the entire 5 impulsive wave
And then things get interesting..
1) Bull scenario this would...