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Elliottwaveretracement

BTC Elliott Wave Count - Near Term Top? #BTC Has BTC reached a temporary peak based on Elliott Wave Count methodology? The analysis is based on the available and relevant price data from the Coinbase Exchange. Wave 5 appears to have peaked at the US$3000 level, and is now correcting. Affecting BTC's near term price uncertainty is the UASF BIP148 vs Lightning Network issue that has not been resolved as of writing this post. Fibonacci retracement levels are included in the chart. www.tradingview.com
COINBASE:BTCUSD
by RogueDave
[EW COURSE] FLAT CORRECTIONTYPES FLAT CORRECTION WAVES: There are three predominant types of flat corrective waves. These include: Expanded flat: This is arguably the most common flat wave formation and occurs in the second and fourth wave of an impulse wave. What connects the expanded wave to the initial impulse wave is a zigzag or other types of triple or double connection. In a bullish market, the price of the underlying asset moves against the trend to form a 3-wave shape. In an expanded flat wave, wave B also appears in a 3-wave structure and goes beyond the start of wave A, while wave C extends beyond the end of wave A. The expanded wave is also known as an irregular flat although this term can be misleading as the expanded wave appears more often than other types of waves. Regular flat: In a regular flat correction, wave B ends slightly at the start of the wave A while wave C ends just beyond the end of wave A. Running flat: A running flat wave is a 3-3-5 wave. Here, wave B terminates past the start of A wave and C stops almost close to the end of wave A. The formation of a running flat is quite rare. The difference between the expanded flat and the running flat is the point at which wave C stops. In an expanded flat, Wave C ends beyond the end of wave A. All in all, each type of corrective flat is essentially an ABC wave with a 3-3-5 sub-waves or configuration. It is also important to note that these types of corrective flats go against the trend of the impulse wave, one degree higher. Thank you for your support! HARMONIC CORRELATION
Education
by TheAnonymousBanker
17
[EW COURSE] LEANDING DIAGONAL TRIANGLESThe diagonal triangle is a particular type of wave composed of Five minor movements that move within two trendlines, both ascending (or descending), converging in the direction of main trend. Diagonal triangles substitute for impulses at specific locations in the wave structure. They are the only five-wave structures in the direction of the main trend within which Wave 4 almost always moves into the price territory of (i.e., overlaps) Wave 1. This pattern we like very much!! ...and we use it on 30' and H1 TF. Thank you very much for your support, and we hope this analysis can help you in your Trading Plan!! ...support us with your "ILIKE"!! Happy Trading!!
Education
by TheAnonymousBanker
8