BitcoinUpdated Elliot Wave #hopium for BTCUSD
I generally do not try to predict anything outside of a few days, which is why I stopped plotting EW's a long time ago, but this kinda stood out and I thought I would share.
I don't remember the exact fibs for estimating wave no. 5 so I'm assuming that past resistance will come into play and reject at 844 or (most likely) earlier.
At this rate, we should be seeing price continue to make higher lows until a top in the low 800's around October.
This isn't gospel, I'm into profits, not prophets. We'll see how this turns out in 3 months.
I don't remember the exact fibs for estimating wave no. 5 so I'm assuming that past resistance will come into play and reject at 844 or (most likely) earlier.
At this rate, we should be seeing price continue to make higher lows until a top in the low 800's around October.
This isn't gospel, I'm into profits, not prophets. We'll see how this turns out in 3 months.
Note
Sorry for the scrunched up chart. I made this on the big screen and when i checked it on my laptop, i realized that I made this mistake. Zoom out.Note
<img src="tradingview.com/x/GFj7AQ6p">My interpretation of recent waves.
Note
Note
We could also interpret (b) forming a continuation abcde triangle, which would still result in a downward continuation. I'm being optimistic and assuming this wave (4) ends flat before starting wave (5).
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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.