Elliott's sub-wave 4 from wave 3 higher count now in its final stage, The price is in the buy zone.
BTCUSDT Good Short Entry with low risk and high r/r 1/6 - 1/10
BTCUSDT Short term long 36150 - invalidation level
More likely is another sub-wave 5 up to complete Wave III before the big correction. And after big Wave V to 150 -160.
Now the 2nd corrective wave is developing. According to statistics, in 73% the 2nd wave is corrected in the zone between 38% and 62% - BTC/USD potential buy zone 24000 - 19000
BTCUSDT Long-term analysis, according to the Elliot Wave Theory and Bill Williams Trading Chaos Strategy.
AO and AC cross horizontal line Very long accumulation period Very good volume First target zone 29.97 - 34.64
AO and AC in green zone. Very good R/R ratio. BW target zone 6.23 - 9.23
Analysis Methodology Used: Bill Williams Trading Chaos
Analysis Methodology Used: Bill Williams Trading Chaos
Analysis Methodology Used: Bill Williams Trading Chaos
The bullish scenario is still possible, although a rule has been violated for Wave 4, which should not fall below the peak of Wave 1. This sometimes happens - for non-standard reasons. Now this reason is panic due to coronavirus. In the bullish scenario, the failed Wave 5 is most likely to form (when the peak of Wave 5 is below the peak of Wave 3). The bearish...
Analysis Methodology Used: Bill Williams Trading Chaos
Analysis Methodology Used: Bill Williams Trading Chaos
1. Wave 1 ended at around 10,500 2. Now wave 2 has begun to develop: since we see that the component wave A consists of 5 waves - most likely we should expect a zig-zag ABC correction . The targets for wave A - 9900 - 10000 in time just before halving - many will buy bitcoin in large quantities, open large long positions. After wave C with a target of 7900 -7600,...