BTC Downtrend Continuation (Just to be aware of!)

21 May 2018

With this wave count I show how my original count (to $7700) could still play out. This would be through a continuation of an ABC that would fulfill a WXY, test the 0.618 (of the macro level move) AND re-test the current downtrend line as support (line shown in red from my earlier analysis).

The sub waves are fictitious - just to be used as examples! I do not do timescale analysis and I have not used Fibonacci extension to work out these smaller sub waves.

Sorry for all the lines!

21 May 2018

Not

If I was to add timescale analysis then I would say that the C wave would go to the 1.0 - 1.618 timescale of wave A. That would put us between the 24th - 26th of this month!