SUMMARY
ETH/BTC price action can be easily analyzed using Elliott Waves & Chart Pattern Recognition. Below is the daily scale chart showing five wave impulse followed by the requisite red a,b,c retracement. The key question being: Is the corection finished?
To see if the red a,b,c correction is finished, a higher resolution chart microscropy is required. This 4 hour chart shows the subwaves of red wave a as having five subwaves (circled white waves). The red b wave is a symmetrical triangle that can be counted as a,b,c,d,e type. Now, is the red c wave complete?
A much higher resolution chart microscopy shows that red c wave of the a,b,c correction could be complete. The below chart has the subwaves marked. In addition, subwave circled white wave 5 itself is dissected into its own subwaves. The wave indications show a high probable scenario where the a,b,c correction could be complete.
The alternate scenario below shows a potential for one more lower low...but not required!
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial
Laddering and Buy/Sell Setups.
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - d2e60e9856c36f34
BTC Wallet - 15ugC4U4k3qsxEXT5YF7ukz3pjtnw2im8B
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LefeWrQXumis3MzrsvxHWzpNBAAFDQbB66
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
My prediction is btg will go to 0.1 btc within 1 week.. @haejin what you think?
Hello Haejin! BITCOINPLUS has painted an excellent picture but what can You say about the prospects? thanks in advance.
@haejin, your audio is good.
I buying the books and giving trading another shot. Got discouraged years back trading s&p futures.. and all the mkt manipulation.. And have stolen btc- I have to earn back. Knowing you is already profitable.. And I, as well, wish you massive profits.