🔥 Bitcoin Elliot Waves Pattern: Right On Track!
Updated
A couple of weeks ago I made an analysis on BTC and the presumed Elliot Waves pattern it was trading in. I wrote that it was possible that ~31k was the 3rd wave top because it aligned well with an overbought RSI.
Looking back, the previous analysis caught the top quite well.
Like mentioned it all my previous Elliot Waves analyses, I see it likely that we're going to move towards the 25k - 25.5k support area. This area is very important because it pinpointed both the Summer-2022 top and the first wave's top.
In my view, it's still possible that we will go up and make new 2023 highs. Assuming we're following an Elliot Waves pattern, we can top between roughly 36k - 40k.
A move below 22k will invalidate this pattern.
Looking back, the previous analysis caught the top quite well.
Like mentioned it all my previous Elliot Waves analyses, I see it likely that we're going to move towards the 25k - 25.5k support area. This area is very important because it pinpointed both the Summer-2022 top and the first wave's top.
In my view, it's still possible that we will go up and make new 2023 highs. Assuming we're following an Elliot Waves pattern, we can top between roughly 36k - 40k.
A move below 22k will invalidate this pattern.
Note
Steadily moving to 25.2k, expecting a big bounce here.Note
Current bounce from 24.9k could be the local low. Need to see more bullish pressure to confirm.
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