Bitcoin traders/investors continue to play Tug Of War as the asset continues its correction south (Wave 4). Expect Wave C to develop as an Expanding Ending Diagonal. With a 3 wave move for both Wave 1 and Wave 2, there's a good chance that Waves 3-5 will also develop in 3 wave sequences.
Viewing this formation on smaller, hourly charts looks extremely choppy. Gratefully, clarity of direction can be found within the weekly chart.
My bottom target for Bitcoin remains in the $30K-$38K region; likely closer to $30K than $38K.
Viewing this formation on smaller, hourly charts looks extremely choppy. Gratefully, clarity of direction can be found within the weekly chart.
My bottom target for Bitcoin remains in the $30K-$38K region; likely closer to $30K than $38K.
Note
this formation has been pretty much invalidated.we are pushing on a Wave 2 correction here.
the diagonal formation is not true.
just remember to sell near $55K.
Note
updated wave count:
Decode the wave, anticipate the move. elliottwavescience.com
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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.
Decode the wave, anticipate the move. elliottwavescience.com
Related publications
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.