BTC Elliott WXY
Updated
So btc finally showed us the X wave
Just Sharing...
Macro look:
weeks to show us the X wave, as I see it, right now we are on the Y wave, this wave might take same time than the W wave (7 months-ich) or even longer
the nature of a wxy correction is complex,
W wave was an easy ABC correction,
X wave was a little more complex,
Then the Y wave is the complex one, so we might not see and easy ABC here.
(I've seen this complex corrections before it can stay into a little range for a long time and then drop heavely)
Right now:
Building wave 1 of Y, we can se range here on wave 4, waitting to drop a little more, maybe to dashed line to finish wave one.
then we would see btc going up building and abc, this would be wave 2.
Remember, wave 2 cannot go further than the begining of wave 1, so invalidation for this scenery is the red line.
Just Sharing...
Macro look:
weeks to show us the X wave, as I see it, right now we are on the Y wave, this wave might take same time than the W wave (7 months-ich) or even longer
the nature of a wxy correction is complex,
W wave was an easy ABC correction,
X wave was a little more complex,
Then the Y wave is the complex one, so we might not see and easy ABC here.
(I've seen this complex corrections before it can stay into a little range for a long time and then drop heavely)
Right now:
Building wave 1 of Y, we can se range here on wave 4, waitting to drop a little more, maybe to dashed line to finish wave one.
then we would see btc going up building and abc, this would be wave 2.
Remember, wave 2 cannot go further than the begining of wave 1, so invalidation for this scenery is the red line.
Trade closed: target reached
:)
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.