7 wave trend indicates a corrective wave
Though Paypal now has Bitcoin as wind to its back, the price chart is facing some headwinds.
The 7 wave up trend is a corrective wave "B" wave in Elliott wave terms (it would be labeled w-x-y). This implies a retest of the $170 low. If prices don't cut towards $170, then this may be the "B" wave of a triangle. Either way, the presure will remain to the downside for a few days.
The 7 wave up trend is a corrective wave "B" wave in Elliott wave terms (it would be labeled w-x-y). This implies a retest of the $170 low. If prices don't cut towards $170, then this may be the "B" wave of a triangle. Either way, the presure will remain to the downside for a few days.
Are you ready to learn Elliott Wave? Take our Free Elliott Wave Readiness Assessment: bit.ly/EWreadinessquiz2
www.seethewaves.com - A school to learn how to read charts & Elliott Wave Theory.
EW Express - bit.ly/elliottwaveexpress
www.seethewaves.com - A school to learn how to read charts & Elliott Wave Theory.
EW Express - bit.ly/elliottwaveexpress