Gold (XAU/USD) , Bitcoin(BTC/USD) Elliott Wave Weekly Outlook - 27th Sep

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daniparra45
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BITCOIN

After completion of the Five Impulse wave, Correction ABC is under progress

A wave: small abc 12455 to 9841

B wave forecast:
B wave expected triangle correction as ABCDE,
B wave to A wave Fibonacci Ratio as ,
50% Fibonacci @ 11150 &
61.8% @11450
So the Price may face resistance between 1150-11450 levels.

C wave forecast :

Five sub-waves of C wave as I,II,III,IV,V

1) 61.8% & 50% Fibonacci retracement of whole Five Impulse from 3793 to 12455 is @ 8100-7100

2) C wave is 123.6% of A wave. After completion of B wave, we can calculate this level.

GOLD :

C wave Forecast :

1) On higher Time frame 38.2% retracement @ 1842

2) 61.8% retracement of a wave is @ 1840

3) 100 DMA @ 1842

4) 123.6% of a wave @ 1791

C wave Possibility 1840/1821/1791

Once this correction complete in few days/week we may see a rally towards new High.

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