[09/24] Beast Trading _ Today's Bitcoin Analysis
Bitcoin is still moving up and down and not showing direction.
So when I counted the Elliott waves on the 15-minute bar, there was an intuitive wave
First of all, from the high 22.8k taken during the CPI announcement to the low point renewed after the FOMC announcement, it seems to be too five waves. It was counted neatly to the Cebu wave.
And it's an important current segment, and I thought that if bitcoin doesn't show directions easily and keeps moving up and down, maybe it's showing convergence.
It's actually showing a movement that's pretty close to convergence.
Elliot's wave shows that the last wave of convergence, the E wave, is coming down, and if you leave the bottom line of convergence, you can start a new downward wave and fall pretty strongly.
Bitcoin is nearing the end of convergence, so you should be careful of excessive entry and continuing to water.
*Elliot wave theory suggests that the E wave, the last wave of convergence, may come out short, so it would be good to shorten the sale or wait and see until it leaves convergence.
Bitcoin is still moving up and down and not showing direction.
So when I counted the Elliott waves on the 15-minute bar, there was an intuitive wave
First of all, from the high 22.8k taken during the CPI announcement to the low point renewed after the FOMC announcement, it seems to be too five waves. It was counted neatly to the Cebu wave.
And it's an important current segment, and I thought that if bitcoin doesn't show directions easily and keeps moving up and down, maybe it's showing convergence.
It's actually showing a movement that's pretty close to convergence.
Elliot's wave shows that the last wave of convergence, the E wave, is coming down, and if you leave the bottom line of convergence, you can start a new downward wave and fall pretty strongly.
Bitcoin is nearing the end of convergence, so you should be careful of excessive entry and continuing to water.
*Elliot wave theory suggests that the E wave, the last wave of convergence, may come out short, so it would be good to shorten the sale or wait and see until it leaves convergence.
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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.
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.