Bitcoin Making A Wedge Pattern: Elliott Wave Analysis
BTCUSD is trading at strong monthly support zone, but on a daily basis, it can still be pointing lower within the final 5th wave that can be forming an ending diagonal (wedge) pattern. We see it currently trading in subwave 4 correction, testing that June lows as a resistance from where we can see another and final decline for wave 5 of (5) with room towards 14k-12k area.
Any earlier rebound and rally back above 21500 level might be signal for a completed 5th wave.
It appears that bitcoin can see some nice turn up in 2023.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Any earlier rebound and rally back above 21500 level might be signal for a completed 5th wave.
It appears that bitcoin can see some nice turn up in 2023.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Explore our services
👉wavetraders.com/elliott-wave-plans/
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
👉wavetraders.com/elliott-wave-plans/
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
Related publications
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.