Bitcoin Elliott wave projection
Updated
BTCUSD is about to accomplish the sub-wave C of the corrective wave ((4)).
Wave ((4)) is forming a running flat pattern, where wave B has exceeded the origin point of wave A.
But due to lack of bear power, wave C is too weak to break the ending point of wave A.
It Indicates bulls are strong at the movement.
But, the price can still break wave A to complete the expanded flat correction, if the price breaks the recent low of 33950.
Price has retreated from 50% at 34244, and we have seen a price surge.
I will upload further information soon.
Weekly chart:
Wave ((4)) is forming a running flat pattern, where wave B has exceeded the origin point of wave A.
But due to lack of bear power, wave C is too weak to break the ending point of wave A.
It Indicates bulls are strong at the movement.
But, the price can still break wave A to complete the expanded flat correction, if the price breaks the recent low of 33950.
Price has retreated from 50% at 34244, and we have seen a price surge.
I will upload further information soon.
Weekly chart:
Comment
Reversed from 50%. However, price has to confirm bull run.
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