Traders_Grove

Traders_Grove

It looks like we're having a double zigzag on BTC. the overall market sentiment is bearish.

Traders_Grove

It looks to me that Wave 4 has finished and now a big downside move might happen.

Traders_Grove

Correction's are always hard to anticipate but we can see that there's a high probability of more downside movement. these are possible outcomes the general sentiment in the markets is bearish. And if we do get it wrong it's just a small risk we're taking.

Traders_Grove

After waiting out i can see a possible flat correction forming B wave could move higher up but im entering already. Stop loss can be placed where favorable.

Traders_Grove

It might be a different patterns but this is what i see on the chart. Afteer WXY finishes a big B wave to the upside where WXY started can happen.

Traders_Grove Updated 

Like btc eth is dropping to, the final 5th wave to the downside looks like it's underway.

Traders_Grove

In my analysis a big drop down can occur, check out the chart.

Traders_Grove

After the TP points have been reached a final 5th wave in the big picture will bring us down to aproximately $15.000. The corrective wave of the C wave of the zigzag seems like it has to reverse, if not A stoploss will save us.

Traders_Grove

it looks to me that we are in a wave 4 in shape of a WYX correction. Wave W as a zigzag Wave X may or may not be finished yet, it could turn out to be an expanded flat. or it has finished and wave Y is underway already. After this correction finishes im foreseeing that it will make a wave 5. Maybe to $25.000 NFA

Traders_Grove

The big zigzag correction seems like its finishing with the C wave in it's potential final phase. Wave 5 can reach $15k if it will be as long as the 1 wave.