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RE: BTC evening update 30.01.18

in #btc7 years ago

Hah, nice! Thanks for sharing that idea, @ew-and-patterns. Today movement has on opposite effect on my analysis. I also thought that the correction is done, when the wave marked with 1? on your chart started to rise, and my question was if that is a 5-3-5 as a link in double zigzag or the impulse (right as you write now), but in my eyes 1 ended to early to be consider as an impulse and it looks more like 5-3-5 at the moment and also I do not find that B-C is a good match with an impulse.

My idea is that C did not over yet, so B on your chart is ii on mine and now wave iii is in action. The strength of the movement made me think like that. Please see my latest post if interested in that version.

Here is the chart:

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Very good observation! This is one of my alternate counts, but your target for the end of wave C is way to low in my opinion. There are some strong support zones whch will likely soften the drop.

Both of you were very helpful.

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