I think we are getting close to the end of the C wave ending diagonal. An ending diagonal for a C wave is rare, but I believe the properties coincide with where we currently stand fundamentally in the bitcoin world - uncertainty, and the struggle between old bulls and bears is coiling down into the tip of a wedge.... More often then not, the 5th wave of an...
In perfect concordance with the final channel if we count this movement as a wave 5)) an impulse with its 5) extended we can assume that the actual decline phase could be the first wave reactive to the last rally started since 0.8129 and now we can expect be around this area for the next few weeks because the nature of this correction due the alternance guideline...
The market moved up as expected Now there is many diffrent possibilities 1. (blue) We are in wave i within wave 3 and should see a pullback that should end above 1.65478, from where the market should see more upside. 2. (brown) We are in a flat that should result in a five wave decline that should retest the area near wave c low (1.6450) and complete wave xx...
My last idea suggested that a reversal maybe on the cards But the decline from the 1.3960 high was very corrective in nature and now it looks like we should see another move towards the 1.40-1.44 area before a reversal. At the time being I will look to buy dips in this pair as we stay above 1.3660:s. Look below for more charts. Follow all my demo trades at...
Stepping back from the shorter time frames, I wonder if this will play out???? For further explanation, refer to: stockcharts.com
Daily Elliott Wave Count The simetry in the elliott wave analysis is not a rule but an important guide to reduce de guess work to determine if a wave structure had been completed or not. In this case, as we expected a clear retrace had been done since the end of the impulsive pattern for wave 3) with a nice fibonacci's level of 38.2 (the most common level of...
After forming a double top base around $45, a A-B-C Elliott wave retracement has been in an expanding range. Ultimately the bearish price divergence indicate the swing downtrend is continuing. If that occurs, the next target, and likely forecast resistance area, is between $43 and $42 (0.5-0.61 fibonacci) in 30 days - Gann time