Here I present Elliott Wave Analysis of BTCUSD. As I had mentioned in my previous post, wave I down (impulse) was over and corrective wave II was in progress. Now the corrective wave has completed and in terms of Elliott Wave Theory, it was an expanded flat.
Now wave III is in progress.
The support line shown in the chart is holding the BTC up but soon I expect this support to be broken with a bang.
The likely target of wave III down is around 5800.
Now wave III is in progress.
The support line shown in the chart is holding the BTC up but soon I expect this support to be broken with a bang.
The likely target of wave III down is around 5800.