BTCUSD Elliott Wave Forecast - Wave 4 Correction (alternate)
The chart depicts my alternate count for the current Wave 4 correction. I believe we are in the final impulse sub wave C which is close to completion.
For those of you who are unfamiliar with this; a flat correction, be it Regular, Expanded or Running all consist of a 3-3-5 wave structure (ABC).
As BTC had printed a more complex correction for Wave 2, alternation guidelines concerning Waves 2 and 4 would allude to a simple correction for this ongoing Wave 4. The simple correction here is in the form of a Running Flat. Please see linked idea below for the Expanded Flat scenario.
I am currently leaning towards this alternate count. The Expanded Flat scenario will only take precedence should price drop below 28.6k. If this level is breached, we can expect further depreciation towards the 24k-25k level.
I hope you found this useful, do leave your thoughts in a comment below.
As always, a 'like' and 'follow' is much appreciated and provides encouragement to share further ideas.
Thank you for taking the time.
BeyondEdge
Your Edge Is Your Perception. Go Beyond.
For those of you who are unfamiliar with this; a flat correction, be it Regular, Expanded or Running all consist of a 3-3-5 wave structure (ABC).
As BTC had printed a more complex correction for Wave 2, alternation guidelines concerning Waves 2 and 4 would allude to a simple correction for this ongoing Wave 4. The simple correction here is in the form of a Running Flat. Please see linked idea below for the Expanded Flat scenario.
I am currently leaning towards this alternate count. The Expanded Flat scenario will only take precedence should price drop below 28.6k. If this level is breached, we can expect further depreciation towards the 24k-25k level.
I hope you found this useful, do leave your thoughts in a comment below.
As always, a 'like' and 'follow' is much appreciated and provides encouragement to share further ideas.
Thank you for taking the time.
BeyondEdge
Your Edge Is Your Perception. Go Beyond.
🔰 Not financial advice. For educational purposes only.
🔰 Join the free Telegram channel for more crypto - t.me/BeyondEdge
🔰Follow me on twitter twitter.com/beyondedge_
Your likes and follows are much appreciated.
BeyondEdge
🔰 Join the free Telegram channel for more crypto - t.me/BeyondEdge
🔰Follow me on twitter twitter.com/beyondedge_
Your likes and follows are much appreciated.
BeyondEdge
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.