BTCUSD Resistance line possible break out or ABC correction

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I wanted to get this out last night on the daily chart you can see it also there is a clear resistance line at the top of the channel
we might break through and pull back and it could sit on the line and go to all new highs bit it could also be a ABC correction
there is allot of resistance at this level on the 5th wave.

I know my wave could could be wrong but i want to get this trend lines out there I wanted to share this as there
seems to be a trend forming, we may have even broke some of the elliott wave pattern rules and principles but i wanted
to put this possibility out there, Im looking for support levels and resistance channel and some patterns that are matching.

Could possibly be a ABC correction coming up. i would say over the next couple of days are going to be critical seeing if this is correct or
not but there is a pattern emerging on the chart no one can deny that,I more so want to get this out there as we are at that top resistance
line now.

This is just and idea and should be treated as an idea :) just lets sit back and watch see what happens this is on the 4hr chart beware
its the same on the 1 day chart.I hope we smash this down trend channel then we can trend a different way, i see bearish pattern always
on a downtrend since 20k good luck all


This is not an ABC correction it's an Elliot wave 1,2,3,4,5 correction wavelets see, also check out magic poop trade view head and shoulders .
This looks like it is playing out as planned i noticed we broke a support line.
Posted in another thread I think this is looking more like what will happen
We are definitely not home and dry the line has just been met with a down trend :(
be patient guys, my chart was a little off as you can see.Loads of resistance and still
in the red on the daily chart. Have a look at the 30 min chart and hour chart make
sure the resistance line is spot on 100% you will see we are on it at the moment and
on a small downward trend.
I will do an update chart with allot more precision im bullish/bearish still for one these trend lines that
i have drawn where too low which could change the price resistance level, i also see other forms of resistance
i want to share please check back later for a new chart with more accuracy, i think we will know sooner
or later but these trend line should fan out not be straight,There is more resistance if this is the case than
just the downtrend line :)..Will update soon as i have had my tea
Its looking good guys im keeping my fingers crossed for all you traders, although i don't think we are 100% out of the resistance line
yet but we are very close, with this momentum i personally think we will break this down trend im hoping, just keep in mind
we can break out of the channel by so much before we get back into it, if we do not get back into the channel this is off the table
and we go full out bullish.
@helberp, I hope so mate !!Its an idea
+1 Reply
@helberp, thank you for providing your chart which i can clearly see contradicts his chart completely. Great job.
+2 Reply
chase4fun2018 poofacebumhole
@poofacebumhole, No problem this seems to be following quite nicely :) Have a nice week mate.I hope every one
comes out of this with some profit either way.
@helberp, What did you say ??Bullshit it looks like it now doesn't it ??I noticed you disappeared.
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