Traveling an ascending channel creating a fifth wave

20 Feb 2018

Nice ascending channel thats following mid trade trade line nicely.
Mid trade line can be used to see where key resistance/support can be tested.
Suspecting we are following a third leg up in a Kondratieff wave.
Creating a fifth ascending elliot wave and possibly creating a first larger ascending wave.
We could see the fifth wave touch the top of the channel at $12-13k or higher before seeing a descending reversal pattern.

20 Feb 2018

Nota

traveling up the mid trend line nicely.
Should know soon if we cross below it or if it remains a support line.

20 Feb 2018

Nota

Staying above the mid trend line
Estimated EW pattern holding support

20 Feb 2018

Nota

$11200 support stopped the initial bleeding. Could be the end of an up trend.
1 hour RSI and MACD seem bearish. Maybe we continue upward below the mid channel for a bit or maybe we are seeing a pivot. Pretty dramatic but still within ascending channel.

21 Feb 2018

Nota

Failed wave. Could be a pivot

21 Feb 2018

Nota

Its possible we have a 7 wave count. Im learning.

21 Feb 2018

Nota

Looks like wave 2 of a larger wave

21 Feb 2018

Nota

Possible end of correction wave. Should know soon.
Still could be bearish as descent was steep

22 Feb 2018

Nota

Seems the correction wave ended and we are seeing a tight channel for now.