I'm expecting BTC to complete a 535 correction back up towards $58-$59K.
Stronger downside should continue afterwards.
Bears are currently in control for the short term (days).
LONG SCALP
Within a zig-zag, the following rules apply:
Wave A - can be impulsive or diagonal (in this case it was a diagonal).
Wave B - can be any 3 wave corrective pattern (in this case it was a zig zag).
Wave C - can be impulsive or diagonal (in this case it must be impulsive).
Note: Wave A and C cannot both be diagonals, however they can both be impulsive.
Stronger downside should continue afterwards.
Bears are currently in control for the short term (days).
LONG SCALP
Within a zig-zag, the following rules apply:
Wave A - can be impulsive or diagonal (in this case it was a diagonal).
Wave B - can be any 3 wave corrective pattern (in this case it was a zig zag).
Wave C - can be impulsive or diagonal (in this case it must be impulsive).
Note: Wave A and C cannot both be diagonals, however they can both be impulsive.
Trade active
Down move was a X wave instead of impulse. We may see an double zag move and retest the $60K zone. Expecting a bull trap!Note
Double Zig Zag Update: X Wave for the Double Zag now in play.
The A Wave for Y was $2570
C Wave for Y should match the same price ($2570)
This would form a double top formation.
Note
Bears should re-take the Wave near $60,666 😈Note
X Wave = Blue Extended Flat almost done. Next zig zag up coming in: 
Decode the wave, anticipate the move. elliottwavescience.com
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Decode the wave, anticipate the move. elliottwavescience.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.