Updated
Possible Elliott Wave on Bitcoin chart!
This Elliott Wave is playing out beautifully so far. I believe all the rules are met.
>> This is an idea to discuss and think about it. Personally, even though it is possible, I'm not sure we'll go down that much in the middle of this bullrun. Previous corrections were not like this. However, it's always healthy to be aware of any possibility and be sure to never bet against technical analysis.
*By the way, 63k and 38k are levels the one and only D MAN is targeting... What do you think?
>> This is an idea to discuss and think about it. Personally, even though it is possible, I'm not sure we'll go down that much in the middle of this bullrun. Previous corrections were not like this. However, it's always healthy to be aware of any possibility and be sure to never bet against technical analysis.
*By the way, 63k and 38k are levels the one and only D MAN is targeting... What do you think?
Note
Doing GREAT so far!Looks like there will be a new ATH soon...
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By the way, just to clearify that target of ~63k: it comes from a level of the Fibonacci retracement shown below and set based on impulsive wave 2. This level of 2.618 is becoming a common target for cryptos. We've just had something similar in ETH recently.Note
I guess we have already corrected and the subwave 4 is done, similar to what happened with the last subwave 4. Everything looks good now to our final leg to the short-term top around 63k - 66k!Note
Updated version of the Elliotts with probable targets:These waves are very beautiful and I believe we'll have a nice correction for a while now. My personal opinion is we will hit the bottom @ 32k or 38k (most likely).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.