It's my practice ^-^. I just describe about my chart with my opinion for report.
I thought that BTC chart was confined with falling wedge.
And price fell above Fibonacci retracement. this line is very strong resistance.
And wave (1) was generated by rebound above Fibonacci retracement.
And wave (2) was made.
wave (3) is strongest of Elliott waves.It could soar with high volume.
I wished wave (3) break away falling wedge pattern for rising but
wave (3) ended with 5 small waves under wedge pattern line.
After wave (4), price broke away wedge pattern with wave (5).
But wave (3) had 5 small waves So it was ended.
So after break away corrective waves will be generate above pattern line of falling wedge.
If it is high volume, second Elliote wave will be impulse.
Thank you.
I thought that BTC chart was confined with falling wedge.
And price fell above Fibonacci retracement. this line is very strong resistance.
And wave (1) was generated by rebound above Fibonacci retracement.
And wave (2) was made.
wave (3) is strongest of Elliott waves.It could soar with high volume.
I wished wave (3) break away falling wedge pattern for rising but
wave (3) ended with 5 small waves under wedge pattern line.
After wave (4), price broke away wedge pattern with wave (5).
But wave (3) had 5 small waves So it was ended.
So after break away corrective waves will be generate above pattern line of falling wedge.
If it is high volume, second Elliote wave will be impulse.
Thank you.
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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.