BTCUSD completing Elliot B correction wave
Updated
This is my Elliot wave count for BTCUSD, please zoom in for details. We might be completing B wave soon. Corrective wave C potential target is 6K. Updating my counts on the go.
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Corrective wave B ended at 9.4k and Corrective wave C confirmed as BTCUSD failed to bounce at 8.8K (8.8K could have been the start of an alternative bullish third wave towards >11.5k). Next target is 8.2k where we expect a little bounce back to 8.5k. Let's see what happens next.
Note
Resistances and supports shown in yellow.
Corrective Wave B lasted much longer than reported in the original count. Target remains the same at 6k. Currently we are in a slow sub-wave 2 of C in a shape of a perfect triangle. Potentially this may give rise to an impulse sub-wave 3 downwards to 8.2k . I expect a fast retracement of sub-wave 4 to the resistance level of 8.8k. Let's see if this scenario plays out.
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