BTCUSD Elliott Wave Analysis 11/3/18

From market high on 17/12/17 to the low on 6/2/18, there was 3 primary movements: motive, corrective, motive. These 3 movements represent either a impulsive/corrective/impulsive wave 1/2/3, or a corrective zigzag A/B/C.

If that downward movement is a zigzag ABC correction, then $6000 is the market low, with upward wave 1 and 2 complete of a new impulsive wave. A break above $17250 will confirm scenario and a break to a new ATH shortly afterward.

If the entire downward movement is wave 1/2/3 of a downward impulse, then the market low at $6000 will be broken by wave 5, and we are currently in wave 4.