BTCUSD Possible Outlook Going into the Election

28 wrz 2020

This is a possibility I have lined up for trading into the US elections. Historically the election time is fairly bearish for the month of October. Now I don't believe the low is in yet on Bitcoin or equity markets. With that being said I also recognize bitcoin rarely trades in a straight line. You could have the overall move bias pegged correctly but it may take some time to get there. This is one possibility I'm preparing to trade. The low conservatively implying a 1:1 extension of the primary waves w & x into the final low y would be around 9100 or so. The more probable target I have in mind is around 8500(1.236 extension) or 8100(1.382). Elliott wave traders please let me know your thoughts and feedback.