Bitcoin BTCUSD - Complete Elliott Wave + Falling wedge! (weekly)
- I do not see any reason why bitcoin should not respect the previous all time high support from 2017 (around 20 000 USD).
- The price is currently above 20 000 USD and we have had a capitulation wick to 17 600 USD to kick out high leverage traders.
- Bitcoin on the weekly chart is currently sitting on the main support: Previous 2017 Swing high + 0.786 FIB + ABC correction completed!
- The price is forming a falling wedge pattern, which is definitely a good sign that can lead to a new bullish trend.
- As per my Elliott Wave analysis - ABC correction should be completed successfully and we can start a new impulse wave.
- If we check the MACD indicator, we can spot a bullish divergence and the first bullish tick on the histogram!
- If this Elliott Wave analysis is wrong, then anyways we should go back to 28 000 USD to retest the 0.618 FIB level + trendline of the wedge.
- Look at my ideas about TOTAL crypto cap and BTC.D in the related section down below ↓
- For more ideas please hit "Like" & "Follow"!
- The price is currently above 20 000 USD and we have had a capitulation wick to 17 600 USD to kick out high leverage traders.
- Bitcoin on the weekly chart is currently sitting on the main support: Previous 2017 Swing high + 0.786 FIB + ABC correction completed!
- The price is forming a falling wedge pattern, which is definitely a good sign that can lead to a new bullish trend.
- As per my Elliott Wave analysis - ABC correction should be completed successfully and we can start a new impulse wave.
- If we check the MACD indicator, we can spot a bullish divergence and the first bullish tick on the histogram!
- If this Elliott Wave analysis is wrong, then anyways we should go back to 28 000 USD to retest the 0.618 FIB level + trendline of the wedge.
- Look at my ideas about TOTAL crypto cap and BTC.D in the related section down below ↓
- For more ideas please hit "Like" & "Follow"!
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.