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Bitcoin's Destiny on the Horizon - Elliott Wave Price Analysis

08/28/2018 13:56


Primary Count

The overall direction remains unchanged but the WXY is preferred as the label. All subwave compositions jive quite well. Y is projected to be at around $7,200 to $7,300 range.

 

 

The wider scope of the Primary count shows that circled blue 4 is still in progress which also adheres well to the yellow WXY sequence projection. 

 

 

The Ascending Right triangle projection also jives with the $7,300 minimum target; however, it could be exceeded. It's not called a minimum target for no reason. IF the exceed goes higher than $7,800 or the bottom of blue wave 1 in the prior chart, then the count will need to be modified but likely, not the primary target of $5,200.

 

 

Alternate Count

It's looking better everyday! IF price can place white wave (1) at around $8,100 and complete (2) for (3)'s onset, it'll certainly be a very good setup to build the right wall of the rounded price formation which is always built on an impulse sequence.

 

 

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