BTC ABCDE CORRECTION PATTERN

30 Nis 2018

Looks like we are in the impulsive sub-wave iii of the ABCDE correction pattern going down from D to E

30 Nis 2018

Not

This is Daily Bigger picture of the current BTC market Cycle started back in
May - June 2017. See the lists of charts below but i'm not saying this is 100%
correct as i'm still learning to use elliott waves with the training that i got

Most of the times Elliott Waves doesnt works when you do the wave counts all wrong so that's why you need to look the weekly, daily, hours and 15mins charts
to see the big picture to do the wave counting. This is one of the important things that i have learned.

If this all works according to Elliott Waves then BTC will head down to E
before going up. Usually E is 0.618 - 0.768 of wave C

This is daily chart to give you a bigger picture of BTC



This is the 4 hr chart of the descending ABCDE pattern



This is the hourly chart of the correction



This is the 30min zoomed chart



Finally this is the 15min zoomed chart

30 Nis 2018

Not

I have done some more wave counting to predict the possible target of v / (iii) and it seems like the waves respecting the 2.168 Fibonacci levels of wave i for the wave v projection. See here:

30 Nis 2018

Not

According to this wave v completes @ around 8600 area. If some crazy manipulation happens before this please throw this elliott wave prediction to the bin ;-)

30 Nis 2018

Not

~2.168 of wave i should be the target of wave v (not wave ii) -

30 Nis 2018

Not

Looks like wave ii retraced closer to 0.786 and the subwave ii is also doing the
same it seems. According to EW Rules wave 2 should never go 100% of wave 1 and
wave projection is between 0.5 - 0.8. So far so good but if wave ii retraced more than 100% of wave i then it needs wave recount.

30 Nis 2018

Not

30 Nis 2018

Not

Sorry the text boxes are not aligned. here's a better screenshot

30 Nis 2018

Not

Looks like subwave ii correction is done and now we are down to subwave iii

1 May 2018

Not

Last wave up before we go down to sub wave iii

1 May 2018

Not

I'm using these fib levels for the elliot waves that i learned which is working so far -

wave 2 = 0.618 - 0.8 of wave 1
wave 3 = 1.618 of wave 1
wave 4 = 0.5 - 0.618 of wave 3
wave 5 = 0.618 - 1 of wave 1

1 May 2018

Not