BITCOIN >>OCTOBER 13<< A MINOR RISE BEFORE RESUMING DOWN?
In my previous BTC analysis I pointed out how a downtrend is still ongoing. It looks like we are still in a triangle but things are taking another turn. Wave D or E is being stretched and could target the $6.7-6.9k range before resuming down.
Remember, my wave targets and channels are estimate target levels and are based on Fibonacci and Elliot Wave Principles. They are subject to possible adjustments. Timeframe was not taken into consideration when projecting targets.
DISCLAIMER: THIS IS NOT PROFESSIONAL ADVICE BUT MY PERSONAL REFLECTION OF THE MARKET.
Remember, my wave targets and channels are estimate target levels and are based on Fibonacci and Elliot Wave Principles. They are subject to possible adjustments. Timeframe was not taken into consideration when projecting targets.
DISCLAIMER: THIS IS NOT PROFESSIONAL ADVICE BUT MY PERSONAL REFLECTION OF THE MARKET.
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In case of a triple zigzag scenario, the 2nd wave X could be completed already in that triangle and the last zigzag may have started. Targets remain the same in both scenarios.
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If the bounce on the triangle support that just happened is what I think it is, then scenario 2 is what is being played out
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So far so good. Unless we get a truncated wave c of E, here are a few targets on where wave E could possibly end.
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We have broken the $6k mark. I will update the chart pretty soon.