MicroStrategy has been the leading indicator for Bitcoin for quite sometime now; as well as TOTAL.
It ran into some resistance at the 0.618 window on the 4th wave up.
In terms of Elliot Wave, typically there are 5 connective waves inside each wave of a 3 wave correction. This is not always the case but sometimes it can provide potential clues.
If I am reading the waves correctly; then MSTR may be forming the 5th wave down. And quite often the 5th wave is a doozie.
If this TA plays out and MSTR finds support at the 1:618 pocket; then this could be the completion of a 1:1.618 3 wave correction on a larger time frame.
-Not Financial Advice-
It ran into some resistance at the 0.618 window on the 4th wave up.
In terms of Elliot Wave, typically there are 5 connective waves inside each wave of a 3 wave correction. This is not always the case but sometimes it can provide potential clues.
If I am reading the waves correctly; then MSTR may be forming the 5th wave down. And quite often the 5th wave is a doozie.
If this TA plays out and MSTR finds support at the 1:618 pocket; then this could be the completion of a 1:1.618 3 wave correction on a larger time frame.
-Not Financial Advice-
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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.