BTSBTC Poloniex 4H 18Nov2017 – Elliot waves, Fibonacci levels

BTS made a fine ABC correction against BTC after a run from bottom 710 to 1350 (with completing 5 of 5 waves per my view previously). Price bounced back from exactly the 0.382 fibonacci level with completing C wave of the correction of the upswing and now is in the cloud and back above the uptrend line. RSI back above 40 – bulls are in trade. In my opinion BTS starts a wave 3 now. If BTS breaks downtrend line formed by the ABC correction next move can be to the 1.618 level (1785) of the latest upswing – this overlaps with 0.236 fibonacci level of a downtrend move started from approx. 6000 level. This is a strong resistance. Next resistance and target can be the 2.618 level (2460) of the latest upswing – this overlaps with 0.382 fibonacci level of a downtrend move started from approx. 6000 level.
If price breaks down recount of waves, adjustment and new analysis may be required. These are only my personal views on potential future price movement. Please trade carefully!

액티브 트레이드

코멘트:

TP1 reached

코멘트:

TP2 reached

코멘트:

코멘트:

Though targets were reached I was trying to do a recount and so potentially we are in wave III. now. 2400 satoshi is 1.618 extension of wave I. 2.618 is 3440, 3.618 is 4450, 4.236 extension is 5120. RSI seems oversold and with considering that 2400 is strong resistance there may be some retract here. However I like to wait for RSI 'bearish divergence' on 4-8 H chart or on a daily chart when the market is looking that strong and so I am not playing now on the pullback though with a SL it might worth trying. I keep holding now.

코멘트:

First target 3440 satoshi reached.