Double Top and Elliot ABC correction Wave

12 déc. 2017

This Top was higher than the Top before, but only slightly. So iit seams the Market has not enough Momentum anymore.
So the end of the Impulse Wave and the crossing on the StochRSI would suggest a corrrection.
So I think a movement like the drawn ABC wave is possible.

12 déc. 2017

Note

As it created an upward Movement it could continue like this:

And might create a similar movement also in the future:

15 déc. 2017

Note

The chart, in a low time frame of 30 Minutes, has created 3 Wave upwards movements and 5 Waves downwards,
the last one is not formed yet, but it looks like it will be one too. If this would continue in the longer time frames it should be a bear market again.



In the 4h Chart we see that according to the Stoch RSI there should be a further correction in up to 3 days, maybe it will also just continue this one.
From my view it is still more likely that it will move like the upper wave over all, or might even create another run up, because biger speculative money coming in(yes, this does not count as true addoption for me). Also because the RSI is not in an overbought area.



So I expect it to continue a shorter down movement of about 10 % or more but in a bit longer terms it should still go up.