AS we can see, looking for a bull perspective, our last hope is the 0.786.
We can see some confluence with 0.618 algo target matching the 0.786 possible 2nd wave of the larger degree.
Are we getting a deep C Wave?
From the lack of volume, the previous idea that the we are getting and ABC Correction to finish the 2nd wave is stronger. We may get a new confluence zone after estableshing the B Wave. Are we getting a 5 wave to complete the C?
Looking a 30minutes chart we can anticipate some confluence around the golden box. First we have the first algo target 0.23 along with the high probability for the 5th wave, putting and A for the ABC Correction.
We know that the highest probability for the 2nd wave is between the 50 and the 61.8%, so finishing the 2nd wave inside that range would make me more...
Looking to a 30min chart, we can see that the bull run is confirmed. We are starting the 3rd wave of the larger degree. Let's look to a smaller degree, we are finishing the V wave of the smaller degree to complete the 1st wave of the larger degree. One more push to the 7600 will make me even more confident. Pushing to challenge the ii wave pivot, of the down trend...
Looking back in a 4h chart, we can see that BTC crossed down the 0.618 Fib Retracement, twice. Finishing the correction tapping the 0.78 Retr.
Are we assisting to a similar deep retacement of the 2nd wave as we experienced in March 2017?
Looking at a 1h chart, we can see that BTC 1.55% just broke the resistance trend line ( in white ), consistently building the 5th Wave of the larger degree.
- As Elliott said simple 2nd wave leads to a more complex 4th wave ( vice versa ), which ended right in the golden pocket!
- If BTC 1.55% breaks the first resistance level ( 9583€ which is also the top...
Can we build a case here? Looking at a 4h chart, the volume of the RSI and EWO confirms the 3rd Wave. As we can see, the correction of the 3 Wave is finding support on the EMA waves as the meddium line of the pitchfork ( Modified schiff ). Looks to me that we are going to have a flat ABC. I would say that once the RSI hits the 30% is a buy zone.
In a...
