Bitcoin Elliott wave count 4H
Bitcoin price still can be counted as a sideway move (down red channel) as the price hits 1:1 proportion W vs Y of a possible WXY correction for a wave 2.
Price still stay into an up channel(green channel) of a possible impulse ended at 31050.
For wave 2 I think is still early to be ended as the price did not hit even 0.382 fib retracement of this up move and the time that passed from the drop start did not hit even 0.5 of the time that took to go up(25 June vertical green line).
The price action at this time still favors a move to the downside and a break of the red channel bottom line may increase the selling orders. Also a break above median line of the red channel may turn the price up.
We still have a strong support at the 24200 - 25200 but if it will be break the gates are opened until 19500 zone.
Good luck, hit the like button if you like my analysis and follow me for future count updates. Thank you!
Price still stay into an up channel(green channel) of a possible impulse ended at 31050.
For wave 2 I think is still early to be ended as the price did not hit even 0.382 fib retracement of this up move and the time that passed from the drop start did not hit even 0.5 of the time that took to go up(25 June vertical green line).
The price action at this time still favors a move to the downside and a break of the red channel bottom line may increase the selling orders. Also a break above median line of the red channel may turn the price up.
We still have a strong support at the 24200 - 25200 but if it will be break the gates are opened until 19500 zone.
Good luck, hit the like button if you like my analysis and follow me for future count updates. Thank you!
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