BTC, the untold story, WxYxZ
Updated
I Don't think anybody thought of this idea. BTC completed since its inception, a classic 5 Elliot wave set. Now price action is in a correction. But most Ellioticians believe that the correction is of the ABC type. I put forth the idea that it's a WxYxZ correction. It is why I believe the price action since the 2018 ATH has been hard to explain and unexpected with big volatility.
The WxYxZ pattern repeated, on a smaller scale, twice after 2018 ATH, confirming that BTC follows such pattern.
Price action is currently in a trading range. After each ATH there was a period were BTC ranged before taking on a parabolic course. The trading range period that has progressively increased in time after each ATH, so did the bullrun period.
Notice the harmonics that have formed and their ratios.
The WxYxZ pattern repeated, on a smaller scale, twice after 2018 ATH, confirming that BTC follows such pattern.
Price action is currently in a trading range. After each ATH there was a period were BTC ranged before taking on a parabolic course. The trading range period that has progressively increased in time after each ATH, so did the bullrun period.
Notice the harmonics that have formed and their ratios.
Note
harmonic formingNote
target reached
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.