Thoughts on BTCUSD chart
Updated
Short term thoughts. I supect we will drop down to the 10k levels.
The ABC correction is very difficult to count but I think after looking at it all day further correction would be more healthy. Expect this to start to take place imminently (20th February 2018)
Following that Elliott Wave theory and the logical resistance point looks to be 13k. That would be the completion of a 12345 wave count, with a correction to 9k seems plausable.
The ABC correction is very difficult to count but I think after looking at it all day further correction would be more healthy. Expect this to start to take place imminently (20th February 2018)
Following that Elliott Wave theory and the logical resistance point looks to be 13k. That would be the completion of a 12345 wave count, with a correction to 9k seems plausable.
Comment
POSSIBLE VARIATIONs3.amazonaws.com/tradingview/snapshots/w/wNuBupik.png
As previously mentioned I was having difficulty counting the ABC correction between waves 3 and 4.
The variation above seems more likely as things stand. As the bulls creep slowly towards the resistance line. Should the line be broken I'm expecting a run to 13k.
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