BTC Update: In-Depth Elliot Wave Analysis
Updated
BTC forming two possible corrections
PRIMARY PATHWAY:
ABCDE -
BTC Hits D wave successfully around 13400-13800 zone then retraces down to E wave target around 8.1k zone. RSI / MACD both confirming upwards movement.
ALTERNATE PATHWAY:
ABC(D2)(E2) -
BTC is done with the D wave and is heading down to E wave as we speak. Not very likely given how bullish BTC is acting this morning.
3rd alternate count (EXTREMELY UNLIKELY CASE):
ABC Finished:
ABC is finished and BTC is going to fly after this sell off to previous C level around the critical 10500 support. Not enough volume to support this decision yet.
(Any feedback will be greatly appreciated. I just started charting about last week so excuse the mess!)
PRIMARY PATHWAY:
ABCDE -
BTC Hits D wave successfully around 13400-13800 zone then retraces down to E wave target around 8.1k zone. RSI / MACD both confirming upwards movement.
ALTERNATE PATHWAY:
ABC(D2)(E2) -
BTC is done with the D wave and is heading down to E wave as we speak. Not very likely given how bullish BTC is acting this morning.
3rd alternate count (EXTREMELY UNLIKELY CASE):
ABC Finished:
ABC is finished and BTC is going to fly after this sell off to previous C level around the critical 10500 support. Not enough volume to support this decision yet.
(Any feedback will be greatly appreciated. I just started charting about last week so excuse the mess!)
Trade active
CORRECTION: TARGET #1: WAVE D not 3.Note
ALTERNATE PATHWAY STILL IN PLAY.Note
lesson learned: do not attempt to perform elliot wave analysis when you are plastered out of ur mind.so many mistakes on this chart i can't even
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.