Whoever has been following my TA of the current BTCUSD price development knew that I was anticipating a last leg in what I assume is an ABCDE corrective pattern in a triple three.
Well, here we are:
If we can now see a higher low, it is likely that it is the beginning of (C) beginning the end of the overall ABC corrective pattern of the last swing down from the...
If the lower support line holds true, we are witnessing a beautiful triangle formation on BTCUSD, suggesting that we are still in corrective wave (b), rather than, as many analysts would have it, being in wave 1 of (c). The actual move up is still about to happen. I am thus short term neutral, mid term bullish, long term bearish.
We might currently be seeing one of the most challenging corrective patterns in EW theory.
After beginning its corrective move up in the vicinity of 3200$ in what we must assume is an ABC pattern, BITFINEX:BTCUSD topped at 4382$ entering a phase of complex correction. If the count is correct, we are now in wave E of a symmetrical triangle formed by an ABCDE...
After we could expect a new upmove in what seems to be supporting our bullish scenario in an ABC Correction, the first impulse wave hit me with somewhat of a surprise in its dynamic and strength. While I was still considering a phase of consolidation or even a last effort of bears to push BTC to the 0.618 level of A, bulls started to enter the market 'en force'...
GBP has been a bloodbath after the Brexit referendum. A 5 legged bullish impulsive wave was followed by a strong ABC correction in the course of the negotiations with an increasing dynamic into the postponement of the deal by the british prime minister Theresa May. As we are moving into the final weeks of the decision, we might see some more downside in this ABC...
After beginning its decline as of the third of October, we could expect to see a little bit more downside on the Dow Jones Industrial Average in what seems to be forming as an expanding triangle.
We could possibly be at the beginning of the fifth leg of of an overall ABCDE pattern, with leg four having retraced back to .382 fib level and price projection for...
On December 15th Bitcoin started its first corrective wave up, ending the first motive wave at 4300$. Since December 24th we are witnessing the correction of the correction in a swift ABC move, which seems to halt at the fib ratio of .618. In the short term bullish scenario we might witness another impulse wave up (C), which will turn out to be less strong and...
