BTC update 20.05.18

This move up looks like a flat correction. That is why I favor the alternate count in brackets (ABC) over the previous ABCDE count.

Why do I count it like this? Well, waves never end with a threewave move. The only exception is a triangle 3-3-3-3-3.

I am seeing three waves down, which means that it can't be the end of the correction.

There is a way to count it as five waves down as well (meaning end of correction is already in), but it just doesn't look right to me. So until proven wrong, I will count it as three waves down.

So if BTC reaches 9000 +-300 and starts crashing hard, see this as confirmation for the ABC count.

Best case scenario: reach 9300, drop to 7500 afterwards.

UPDATE: The bounce off this trendline could indicate that the correction is over. I still think it is not over, but for your awareness:

Bitcoin BTC_USD.png

5 weeks green would be needed to reach 16k. Confirmation for this is 10200.

image (5).png
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