Fresh perspective on Elliot waves
Having previously based my BTC Elliot waves based on price movement, I now notice a time correlation that seems to be repeating. Almost to the day we have seen 3 consecutive Elliot waves play out and I'm now expecting a long awaited correction to the 0.618 retracement . I would hazard a guess that the 'B' wave peak will happen just prior to segwit2x planned for mid November, indicating a 26 day cycle of correction. I find it hard to fathom continued movement up from this point to make a new all time high but time will tell.
Please share your thoughts.
*Disclaimer*
This is only an opinion based on one method of technical analysis , and not intended to influence others' actions.
I recommend performing multiple methods of technical analysis before making decisions regarding buying or selling crytocurrencies.
Please share your thoughts.
*Disclaimer*
This is only an opinion based on one method of technical analysis , and not intended to influence others' actions.
I recommend performing multiple methods of technical analysis before making decisions regarding buying or selling crytocurrencies.
Note
Support has become resistance on the 30 minute chart. Also note negative divergence with the RSI.
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