Bitcoin analysis (BTC / USD : Bitstamp) with Elliott Wave
Updated
English isn't my mothertongue, I might write wrong words or pharases.
Please excuse.
1. Long Term
I still expect like this.
2. Mid-term
We are in Wave 4 area.
3. Short Term
I checked 4 mono waves, can expect some possibilities of wave process.
①. ABC shape
②. ABCDE shape
There are some other possibilities,
but those Target Prices are alike.
Volume decreases generally,
but it bursts when price falls.
It means price falling is still on going.
4. Expectation
Probably 8613 ~ 8550 is buy-able range.
First, it's target price of ABC wave.
Second, PRZ of Gartley pattern.
Third, moving average line which can be support line.
And 8600 ~ 8550 is a traditional Support and Resistance Line.
BUT!!!
I don't reccomend to take a position at here.
Because Corrective wave can be changed in all way, so the most safe way is wating till wave ends.
Please excuse.
1. Long Term
I still expect like this.
2. Mid-term
We are in Wave 4 area.
3. Short Term
I checked 4 mono waves, can expect some possibilities of wave process.
①. ABC shape
②. ABCDE shape
There are some other possibilities,
but those Target Prices are alike.
Volume decreases generally,
but it bursts when price falls.
It means price falling is still on going.
4. Expectation
Probably 8613 ~ 8550 is buy-able range.
First, it's target price of ABC wave.
Second, PRZ of Gartley pattern.
Third, moving average line which can be support line.
And 8600 ~ 8550 is a traditional Support and Resistance Line.
BUT!!!
I don't reccomend to take a position at here.
Because Corrective wave can be changed in all way, so the most safe way is wating till wave ends.
Note
I guess ABC shape will process..
Then Wave B end point could be..
1. 9170 : small wave C end point
2. 9240 : retracement 1.272 ratio of big wave B, Gartley pattern
3. 9320 : AB=CD pattern of big wave B
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.