BitcoinShort
Bitcoin Correction Likely Not Over Yet!
Updated
****Note: I'm not sure why the main graph is not showing all pertinent information...please look at photos attached below for better idea!****
It seems certain that an Elliott ABC correction completed forBTCUSD; however I am not quite convinced a new impulsive wave have formed. Therefore, we are currently undergoing a "double three" correction.
It appears we have developed a 3 wave pattern (3-3-5) since completion of our ABC correction which may indicate this is an "X" wave of a larger WXY combination corrective wave in which "W" represents our initial ABC corrective wave, "X" represents our current position as a reactionary wave, and "Y" represents a continuation ABC correction that has yet to come.
1Day Chart:
It seems certain that an Elliott ABC correction completed for
BTCUSD; however I am not quite convinced a new impulsive wave have formed. Therefore, we are currently undergoing a "double three" correction.It appears we have developed a 3 wave pattern (3-3-5) since completion of our ABC correction which may indicate this is an "X" wave of a larger WXY combination corrective wave in which "W" represents our initial ABC corrective wave, "X" represents our current position as a reactionary wave, and "Y" represents a continuation ABC correction that has yet to come.
1Day Chart:
Trade active
(X) Reactionary Wave looks to have completed. Now we look to begin our continuation ABC pattern in the (Y) Wave. Final TP has not changed.Trade active
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