Updated

BTCUSD EW Analysis (Including Most probable retracement Target)

Count is largely based on Godly's EW count. But I have included some intrinsic changes based on careful analysis. Mostly in the subwaves of the triangle.

Overall retracement type is a double zig-zag.

ABC - ABCDE triangle (X) - ABC

Most Probable target for end of retracement: 4640
If that breaks down, 2870

Note

Subwaves of the waves A and B of the (B) wave of the triangle

Note

Seems like waves 1 and 2 of the (C) wave are done:

Note

Current count of subwaves:

Note

Correction most likely comes to an end here

pinned through the 76.4% support.

If we form a lower low now, it would invalidate the target and the next support will be 2840 (85.4% mark)

Note

76.4% support didn't hold.
Approaching 85.4% line now.

RyanPal

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RyanPal

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