zippy1day

zippy1day

Well if B is in for this local bottom then targets as per chart are possible? thepatternsite.com

zippy1day

Are we about to enter the bear market ~ yes probably but in the context of a Bull correction! We have taken the ABCDE triangle out with breaking leg C level.

zippy1day

With bitcoin closely correlated to NASDQ & US10YR Treasury markets ~ is it time to break the mould? For it to happen this falling wedge needs increase in volume and perform like the "Dip" example below:- thepatternsite.com

zippy1day

If we have completed the "Triple Combo Wave(WXYXZ)" the Z five leg down then we might be entering Intermediate Wave (3)?

zippy1day

This next leg E, is proving troublesome and it could be that we have not completed D yet in the ABCDE Elliott Wave Triangle?

zippy1day

It has been a clear breakout of this Original Pitchfork and I believe we are looking for E lower degree b in the (3,3,3,3,3) in the Macro ABCDE Elliott Wave Triangle? school.stockcharts.com

zippy1day

Interesting that we have stopped at the lower extended diagonal of the previous "Bull Pennant" & possible end of sub-wave b ~ so lets see now if we continue to make the D leg of the sub-wave c?

zippy1day

I can get 5 sub-waves out of what looks like a "Leading Diagonal" see link below:- thepatternsite.com

zippy1day

Can this still happen ~ yes it can with this Macro ABCDE Elliott Wave triangle!? Conclusion more sideways action in a large range for a few months yet....unless of some significant event! school.stockcharts.com

zippy1day

Looks as if this harmonic is correct we may drop a bit further see link for possible targets! The potential bull flag looks a busted pattern. It this is a 1/2 wave in a higher degree we need to stay above recent lows i.e. $34300 1.bp.blogspot.com

zippy1day Updated 

I think this wave (iv) has been complex and if we stop at the 0.382 Fibonacci level then falls in line with Elliot wave thinking. My labelling maybe a bit off but it gives the general idea?

zippy1day Updated 

Well now ~ will the Bulls succumb to the Bears or does this "Bull Flag" and zig zag correction confirm the bear run is over its over?

zippy1day

This fib channel looks as price is respecting its levels , so lets see if we are going to test $50K in a lower degree wave 3?

zippy1day

We have n't yet quite made the absolute target for this flag but I am hopeful! thepatternsite.com

zippy1day

I think my last chart was a little modest as to the target, so I have revised it to test all time highs again!

zippy1day

I got a couple of targets as per chart if this plays out and kind of falls in line with the bullish Fibonacci levels?

zippy1day

The next few hours will be crucial to see if we can break the upper diagonal of the "Symmetrical Triangle" in my opinion? thepatternsite.com

zippy1day

With Symmetrical Triangles they can break either way but I favour to the upside using the "The Triangle Apex" theory as a change in trend! thepatternsite.com