BitcoinShort
It’s all Fibonacci and Elliott wave principles
Support: Dotted Turquoise , Resistance: Dotted Purple
Staring (point 0) from bouncing at resistance line, then:
Wave 1 – Fib 0.618 : Dec 12 (touched support line)
Wave 2 Jan 7 (touched resistance line)
Wave 3 Fib 0.382 : Feb 5 (touched support line, , also last 9 months support line in red)
Wave 4 Mar 5 (touched resistance line)
Wave 5 (Guessing) by Mid-April, based on last 4 years history
I think wave 5 won’t make it to Fib 0.236 because it will meet the historical support line (yellow) on its way.
Staring (point 0) from bouncing at resistance line, then:
Wave 1 – Fib 0.618 : Dec 12 (touched support line)
Wave 2 Jan 7 (touched resistance line)
Wave 3 Fib 0.382 : Feb 5 (touched support line, , also last 9 months support line in red)
Wave 4 Mar 5 (touched resistance line)
Wave 5 (Guessing) by Mid-April, based on last 4 years history
I think wave 5 won’t make it to Fib 0.236 because it will meet the historical support line (yellow) on its way.
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.