BTC algo confluence, Elliot wave clarity to come

12 oct. 2018

Here are the confluent algo zones, pattern targets and fib support. We can see 3 major clusters of likely support from the profits that algos take from their shorts, combined with the targets of the thrust from the potential elliot wave triangle(Needs to break the low to confirm) and the .786 fib retrace from the major wave structure and the next high volume node. If the triangle is confirmed here we would expect to complete this correction in one of two probable ways, 1) An impulse, looking for 5 waves, we would likely be working on the 1 wave of that sequence now, or 2) an ABC zig zag correction and we would be working on either the 1 of the A or the A itself. Elliot will have to be updated as we go, and will ultimately decide how we can get to some of those lower targets.