The life and times of BLX (BTCUSD) in semi-log scale with major Kennedy channels, inferred Elliott wave structure, key inflection points and key retracement levels.
Kennedy base channels shown in *Blue*. Deceleration channels shown in *Red*
BLX is in high probability of wave 1 of 1 of 3 based upon retracement depths acheieved so far in 2011, 2015 and 2018.
Having mapped the motive (5-wave, green) + corrective (3-wave, red) structures through-out the correction, they seem to be painting an Elliott Wave 'Double-Three' structure (possibly a triple-three but that would take a while longer to confirm). This is comprised of a corrective wave 'W' followed by an inverted corrective 'X' and finally a non-inverted 'Y'. I came ...