Intermediate (C) (red) – Elliott Wave Analysis
Minor 1 (red) breached through the Ascending Channel in Intermediate (B) (red), and thus, a new bearish door has been opened for BTC/USD. Minor 1 (red)
shows an extension in Minute iii (red) and a Triangle in Minute iv (red).
Minor 2 retraced the default 50-61.8% Fibonacci Retracements of Minor 1 (red), unfolding...
Cycle Wave II (black) – Elliott Wave Analysis
BTC/USD, as previously mentioned in Part 1, has been unfolding with a downwards momentum ever since the peak back in October 2017.
The down-trend has been classified as a Complex Corrective Structure, more exactly as a Triple Three in its Primary WXYXZ (red) sub-waves.
Primary Wave W (red) unfolded as a Zig-Zag...
From an Elliott Wave standpoint, and also from the technical perspective, it can be established that the former bullish parabolic swing represents the
dominant trend. The down-trend presents multiple overlaps and corrective characteristics, making it a corrective bearish sequence.
In technical analysis, the bearish sequence could represent a “healthy”...
