Double ZigZag Correction In Progress
Atualizado
I actually publish this idea before but I will update it with a new one since B peak has changed. Think I got the buy zone correct, +/- $500. Random yellow and purple sub waves just for reference, not real targets. Note that this $13,600 may not be true bottom if BTC extend into triple zig zag. So 2 scenarios here.
1) Correct to $13,600. Start consolidation before breakout to moon.
2) Extended triple zigzag down to maybe 11k then consolidate before breakout to moon.
Worst case scenario, bear market is here to stay. Won't be able to tell until after triple zigzag is done. Note that this is still a bull market correction and not yet a full bear market. Good luck and stay safe! You can take either long or short position here, so neutral idea.
1) Correct to $13,600. Start consolidation before breakout to moon.
2) Extended triple zigzag down to maybe 11k then consolidate before breakout to moon.
Worst case scenario, bear market is here to stay. Won't be able to tell until after triple zigzag is done. Note that this is still a bull market correction and not yet a full bear market. Good luck and stay safe! You can take either long or short position here, so neutral idea.
Nota
Some wave counts have adjusted since this idea was made, I am seeing the bottom moved up to $14600 for buy zone 1 and $12800 for buy zone 2. Buy zone 2 in case we get an extend wave 5 down, and I miscount the yellow sub waves 3 & 5 (hard to separate atm)My confusion here is there is no support trendline for $14600 so if it bounce, I believe that is bottom for double zigzag, then ABC up and 12345 down into triple zigzag correction to $12800 or lower.
GL!
Nota
I just remembered, this is a good long term hold position for next year's bull run. U won't regret it unless Bitcoin falls apart, well TA can't predict that far... sorry!Nota
Wave 5 down got truncated, bottom went up to $15500 for end of double zig zag. Because it got truncated and the is bouncing off in ABC waves, it looks like triple zig zag is starting and we are still looking at a buy zone at $14,000 - $13,500.Some of you may see this as the right shoulder of a H&S forming. So if this is all true then BTC will rally upwards here to around $19,000 then fall down to support line at $17,500. Break thru and down into $14,000 and correction fully over. Consolidation should begin there before starting a bull/bear market 2018.
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