Approaching minor Impulse Wave final

BITSTAMP:BTCUSD   Bitcoin / Dollar
Looks like pretty straight forward Eliott Impulse Wave started on December 30 is approaching it's final point right now with target 16300-16400 on 61.80% Fibonacci resistance level . I think we can expect relatively minor correction then and will see if we can brake the trend line on 13800 around January 8.
hi, thanks for this chart - it is close to my thinking, the only problem is that (4) should not be lower than (1) - on mine there is couple dollars lower.... or maybe there any sepecial kind od situations where it is acceptable??????
+1 Antworten
BoyKot lluka
@lluka, technically you're right, I've also noticed this inconsistence, but I don't think this is big deal here for wave analysis.
Both (1) and (4) extreme points are way different from their open and close points, and if you'll combine (1) open with (4) close you'll see that difference is more than $500 which is about 6% of respective Finbonacci retracement units. BTCUSD is still extremely volatile, that's why we might have such anomalies.
lluka BoyKot
Thanks, i'm a very beginer so do not know all anomalies knowing that they are.... any way the main qestion is if we are already in sustain uptrend now or stil in the middle of correction...
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