Trading Bitcoin | Buy Orders | Elliott Wave (Mar 2020) - Part 1
Updated
BTC/USD (weekly) has been labeled within a Cycle Degree wave III starting point.
Cycle Wave II (black) has been called as the bottom during Dec 2018, unleashing the Crypto Bull Market.
Primary (2) (green) hit the bottom in December 2019.
Cycle II (black) Structure - Double Flat
Dec 2017 peaks and down until Dec 2018 bottoms - Cycle II (black)
Primary 1 (blue) Sequence - Impulse
Break-out and confirmation of a bullish sequence.
Primary 2 (blue) Structure - Correction
Descending Channel unfolding within a complex Triple Three sequence.
Next expected swing
Bullish Impulse, with a rally in the 3 of 3's, of a Primary degree.
Levels in focus: $7800 & $5550.
Dominant Trend
Bullish Impulse (Rally) presenting an Extension towards 35K and then beyond.
Structure Change
Primary 2 (blue) invalidation is at $3122.28.
Cycle Wave II (black) has been called as the bottom during Dec 2018, unleashing the Crypto Bull Market.
Primary (2) (green) hit the bottom in December 2019.
Cycle II (black) Structure - Double Flat
Dec 2017 peaks and down until Dec 2018 bottoms - Cycle II (black)
Primary 1 (blue) Sequence - Impulse
Break-out and confirmation of a bullish sequence.
Primary 2 (blue) Structure - Correction
Descending Channel unfolding within a complex Triple Three sequence.
Next expected swing
Bullish Impulse, with a rally in the 3 of 3's, of a Primary degree.
Levels in focus: $7800 & $5550.
Dominant Trend
Bullish Impulse (Rally) presenting an Extension towards 35K and then beyond.
Structure Change
Primary 2 (blue) invalidation is at $3122.28.
Note
Note
Bullish impulse has been delayed, structure became more complex. This does not mean that BTCUSD is not destined to start the expected rally. This only means that the Triple Three correction has been prolonged in duration and time. A rise is in the menu, and should be starting very soon.Note
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