BTCUSD - Elliott Wave Analysis

5 Feb 2018

If my EW analysis is correct, then we are heading to around 4400. This gives us 78.6% retracement of wave 1, and makes a = c for the zigzag. The channel line is also matching this scenario,

This is by no means any advice for buy/sell.

Please do leave feedback on your thoughts.

5 Feb 2018

Catatan

I was also thinking that wave a doesn't necessarily have to be equal wave c. Other possible reversal points might be 7200 (61.8%) and 5900 (78.6%). If it's 61.8%, then we might already be close to the end of the correction. (I must admit that it doesn't seem like it at this point).