Bitcoin - The Double Three is complete! Or is it?
Updated
Hello my fellow Bitcoinistas!
I hope you enjoyed your long weekend for those of you that had one. I certainly did. :0)
I'm going to go out on a limb here and suggest that the main correction is over. That's right, over.
Unless this "Double Three" correction were to turn into a "Triple Three" correction which means we would need to tack on another X Wave followed by another smaller corrective pattern.
I don't think this will be the case. I think the market has had about enough of this shit and is ready to move on. I know I am.
If this last impulsive move up is the beginning of Wave 1 of the next 5 Wave move up then Wave 2 could retrace almost all the way back down to were wave 1 started. (Down by the blue Wave 5 and Y on this chart) It doesn't have to, I'm just staying it could retrace quite a bit and still not violate the rules. In other words I would not chase it. If I were looking to add to my longs I would wait for the pullback before I commit. That's not advice, that's just me.
If I'm wrong, I'm wrong, but I don't see any other way to count it right now.
I hope this post finds you all well and in the money.
BBS out !
For more information about the "Double Three" look here: " elliottwave.net/educational/basictenets/basics3.htm "
I hope you enjoyed your long weekend for those of you that had one. I certainly did. :0)
I'm going to go out on a limb here and suggest that the main correction is over. That's right, over.
Unless this "Double Three" correction were to turn into a "Triple Three" correction which means we would need to tack on another X Wave followed by another smaller corrective pattern.
I don't think this will be the case. I think the market has had about enough of this shit and is ready to move on. I know I am.
If this last impulsive move up is the beginning of Wave 1 of the next 5 Wave move up then Wave 2 could retrace almost all the way back down to were wave 1 started. (Down by the blue Wave 5 and Y on this chart) It doesn't have to, I'm just staying it could retrace quite a bit and still not violate the rules. In other words I would not chase it. If I were looking to add to my longs I would wait for the pullback before I commit. That's not advice, that's just me.
If I'm wrong, I'm wrong, but I don't see any other way to count it right now.
I hope this post finds you all well and in the money.
BBS out !
For more information about the "Double Three" look here: " elliottwave.net/educational/basictenets/basics3.htm "
Note
It may be a little early to try to start a new count but that's what I do. Early. lolTrade closed: target reached
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