BTCUSD trading idea: Elliott Waves and Support Levels. A-B-C is finished.
All right folks!
Looks like we are done with an A-B-C pattern.
We have faced a spike to $6 500 and quick return to $7 400.
Now I see two scenarios.
- We go up with an impulse and to the new heights.
- We go up with an A-B-C and waiting for the new ZigZag so that we had a double ZigZag pattern
Just for fun. 15 min chart with the last 5-th wave of the C in the A-B-C and new movement as a 1-2-3-4-5.
1-2-3-4-5 is fine for both A in A-B-C (double zigzag) and 1 in 1-2-3-4-5 for the Impulse.
I do not name any target, but monitoring the movement. Wave 4 do not go below the top of the 1-st wave probably that is a place for speculative trade.
Good luck!
Definitely looking like a decisive move with the volumes. What is interesting is how quick these waves have come.
good point and great use of the elliot waves theory.. but after an ABC it is a possible with all this increasingly negative FUD that we hit an ABCDE correction for the next couple of days
I guess all options for ABCDE are too flat for the current situations.
Descending Triangle
Ascending Triangle
Contracting Triangle
But we'll see!
good point! thanks