Bitcoin analysis (BTC / USD : Bitmex) with Elliott Wave
1. Long Term
Still same.
2. Mid-Term
Wave 4 Corrective wave is in process.
At this moment, the matter is a shape and end price of wave 4.
In a bigger scale, wave 4 can be retraced 23.6% or 38.2% of wave 3.
Its price is $8,661 to 23.6%, $8,190 to 38.2%.
Able to find exact target price by analysys wave 4.
3. Short Term
2 days ago, I have thought that the shape of wave 4 would be a zigzag.
But seeing a processing, the possibility of a zigzag getting lower.
In 4 kind of time scale, all candles are above Ichmoku clouds.
It acts like a support line, so bitcoin won't fall down rapidly, deeply.
So I guess the shape of wave 4 would be a triangle type.
4. Expectations
If the wave 4 process as triangle,
we can expect that third wave (C wave) end point via Harmonic pattern and zigzag.
①. Shark Pattern (red) : $ 8.479.5
②. Butterfly Pattern (green) : $ 8,563
③. Zigzag (purple line) : about $ 8,585
④. 78.6% Retracement of wave B : $ 8,570.5
So $ 8,479 ~ $ 8,585 is very proper buy-zone.
Stop Loss can be $ 8,400.
Still same.
2. Mid-Term
Wave 4 Corrective wave is in process.
At this moment, the matter is a shape and end price of wave 4.
In a bigger scale, wave 4 can be retraced 23.6% or 38.2% of wave 3.
Its price is $8,661 to 23.6%, $8,190 to 38.2%.
Able to find exact target price by analysys wave 4.
3. Short Term
2 days ago, I have thought that the shape of wave 4 would be a zigzag.
But seeing a processing, the possibility of a zigzag getting lower.
In 4 kind of time scale, all candles are above Ichmoku clouds.
It acts like a support line, so bitcoin won't fall down rapidly, deeply.
So I guess the shape of wave 4 would be a triangle type.
4. Expectations
If the wave 4 process as triangle,
we can expect that third wave (C wave) end point via Harmonic pattern and zigzag.
①. Shark Pattern (red) : $ 8.479.5
②. Butterfly Pattern (green) : $ 8,563
③. Zigzag (purple line) : about $ 8,585
④. 78.6% Retracement of wave B : $ 8,570.5
So $ 8,479 ~ $ 8,585 is very proper buy-zone.
Stop Loss can be $ 8,400.
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