Bitcoin Wave Analysis
It appears that bitcoin is currently on an expanding flat pattern in Wave 3 as the most plausible scenario.
Alternative counts include
Potential Triangle formation forming.
Triangle can be invalidated if we make a lower low than A (could be expanding but unlikely)
or if we have another complex correction [ combination like A (A = WXY)]
5th of 1-2
We could be completing 5 waves up for a 12 completion with a leading diagonal as 1-2 at the 30k lows back in June
Bullish counts 12 34 and 12 12 have been invalidated with the recent correction.
Avoid leverage trades and have buy orders averaging the 33k
Invalidation of this expanding flat would be 5 waves up without momentum divergence and price developing above 53k
Alternative counts include
Potential Triangle formation forming.
Triangle can be invalidated if we make a lower low than A (could be expanding but unlikely)
or if we have another complex correction [ combination like A (A = WXY)]
5th of 1-2
We could be completing 5 waves up for a 12 completion with a leading diagonal as 1-2 at the 30k lows back in June
Bullish counts 12 34 and 12 12 have been invalidated with the recent correction.
Avoid leverage trades and have buy orders averaging the 33k
Invalidation of this expanding flat would be 5 waves up without momentum divergence and price developing above 53k
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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.
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.