BitcoinShort
BTC-/USD - an EW approach on the outlook
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Looking for similarities in the fractalities and conclude future movements from that similarities in fractalities is what Elliott-Wave is about.
This count interprets the top at 20k as an overshooting corrective B, which is then according to the books followed by a impulsive and steep C Wave to complete the correction.
I find the overshhoting B viable mainly by its form, the allowed extension of around 162% , which depends which Data-Base/Coin-Exchange is chosen, and the typical steep and propulsive C Wave we have seen driving the price lower in dramatic proportions finding a first halt between 38% and 50% RT of the upmove , measured at the top at the counted end of Wave (III)
As this Chart suggests, the Correction is still not over, and the Zone at around 10k could be a probable retracement.
So the micro-look of the corresponding lesser degree wave finds its macro-mirror in.between 50-62% RT Zone of the whole move.where a solid demand zone is present at 10k.
This count interprets the top at 20k as an overshooting corrective B, which is then according to the books followed by a impulsive and steep C Wave to complete the correction.
I find the overshhoting B viable mainly by its form, the allowed extension of around 162% , which depends which Data-Base/Coin-Exchange is chosen, and the typical steep and propulsive C Wave we have seen driving the price lower in dramatic proportions finding a first halt between 38% and 50% RT of the upmove , measured at the top at the counted end of Wave (III)
As this Chart suggests, the Correction is still not over, and the Zone at around 10k could be a probable retracement.
So the micro-look of the corresponding lesser degree wave finds its macro-mirror in.between 50-62% RT Zone of the whole move.where a solid demand zone is present at 10k.
Anmerkung
quick and dirty Variation- 15min chartAnmerkung
the bullish variationAnmerkung
Anmerkung
honestly....a decent downer would complete the picture...looks quite unharmonic to me looking at the 60min i posted here,if it sky-rocketed right away from here...I will stick with my short outlook...: BTC/USD heading for a restest of the lows ...or even 10 k...
But a bias is nothing but a bias and an antagonistic count should be at hand for everybody approaching the markets by means of EW...so he does not get stuck on it...
Trade ist aktiv
60 min Chart -Update-basic idea stays te same...now short term long chance15min Cart-Update
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