BTC - Elliot correction - How to count waves
Updated
This post for education purpose only.
Yesterday BTC at 11k3, I draw 2 ways BTC can go, some reasons:
1. Wave A has 3 waves, Wave B has 3 waves
2. In this 3-3-x case, we only have 2 types of correction: flat or triangles.
3. In case of flat correction, it goes as green line. Wave C go 5 waves, stop at fibo 1 or 1.13
4. In case of triangles correction, it would be 3-3-3-3-3 waves, like orange line.
5. Now, price are following green line, let's see I am right or wrong.
Yesterday BTC at 11k3, I draw 2 ways BTC can go, some reasons:
1. Wave A has 3 waves, Wave B has 3 waves
2. In this 3-3-x case, we only have 2 types of correction: flat or triangles.
3. In case of flat correction, it goes as green line. Wave C go 5 waves, stop at fibo 1 or 1.13
4. In case of triangles correction, it would be 3-3-3-3-3 waves, like orange line.
5. Now, price are following green line, let's see I am right or wrong.
Note
Note
In the case wave C of flat correction extend to fib 1.13, price follow yellow line.
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