Long

BTC Elliot Plan

Updated

In the charts, we can see a lot of Elliot Wave is overlapped

Note

Respectively, Fibonacci also overlapped in the area of 28k5. This is also a resistance area. I believe all of the Elliot waves drawn in the chart are only the beginning of Wave 1 in a bigger timeframe.

Note

This is a very bullish signal in terms of Elliot. We will open a long position up until 28k5 and observe the price action in that particular area to see how the Wave 4 move before making plan for Wave 5

Note

Currently, the small blue Elliot pan had been canceled because Wave 4 have entered the Wave 1 area which is not a good sign for this plan.

Note

However, the gray Elliott Wave isn't being canceled yet. So we will observe the price in this area. If the gray Elliott Wave is also failed, it might be a bad sign and we will stop following this plan immediately

helengon183

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