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BTCUSD chart, minute level: Elliott Waves and Support Levels. by dkn

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· @dkn ·
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BTCUSD chart, minute level: Elliott Waves and Support Levels.
All right, folks!

Here comes the update on the BTCUSD chart.
3 day ago I have posted the sketch for the A-B-C correction or the wave 2:
https://steemitimages.com/0x0/https://steemitimages.com/DQmPsFHEgEq2fUs2JyAdzZcBtTHZSVXTwYLvgXaxXmBoETC/1.png

Here is the picture now (unedited, we the same A-B-C wave):
![a-b-c.png](https://steemitimages.com/DQmdqjZzF9PzfLBM5F4sQvU92iLLwMgNNEU7oR9S1WniytV/a-b-c.png)

The markers are edited and the minute waves added:
![minute.png](https://steemitimages.com/DQmfJX23r4w53iPDxvNZuSjrpbMuSCPoc5JeBwpkG64bEPe/minute.png)
I expect the one more impulse aimed the $8 000 level.

If my primary count is correct and we are now in the wave 2 of the intermediate level, the 3-rd wave should be strong and it will finally break the downtrend corridor:
![channel.png](https://steemitimages.com/DQmXWxT6eMPPoeLoD7Eux1UE8Y3HZTexszZUn4wYFh4s1G6/channel.png)

The alternative is that the major correction in not a simple A-B-C ZigZag, but the Double ZZ:
![2zz.png](https://steemitimages.com/DQmVGZiDsMcAnUmCJwq3yoQgEgSZBSqExr9kyYt3jonyhWC/2zz.png)
That will be the case if $8 000 will not work out as a resistance and current intermediate wave pattern will be an impulse (wave A), but not the A-B-C (wave 2).

Coming back you soon,

Stay tuned!
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vote details (16)
@cryptosludge · (edited)
Yup, i am aiming to the 0.5fib (8800 area) for the right shoulder of really big inverse head and shoulder pattern, could be a nice reversal point.

https://steemit.com/bitcoin/@cryptosludge/btc-what-now-24-2-18
👍  
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vote details (1)
@postpromoter ·
re-dkn-btcusd-chart-minute-level-elliott-waves-and-support-levels-20180224t200250133z
You got a 1.06% upvote from @postpromoter courtesy of @dkn!

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