Short-term analysis on Bitcoin with harmonic bat and Eliot wave
Updated
Hi all, I've researched on bitcoin in short-term with harmonic bat and Eliot wave
1. Bitcoin had been forming the harmonic bat pattern since last 4th of Nov in 4 hours charts and just reached out the PRZ to make itself reversed. It did successfully for a couple of hour ago(Red box refers to a PRZ of the bat pattern)
2. For now, BTCUSD is on the support right on the downtrend channel. If supported on 8276, I believe that it could be seen on 3rd waves in submicro wave on 3rd micro wave of Eliot wave.
3. If 8276 USD bleached down. I see A to D trace of harmonic bat a full small Eliot wave that BTC needs to be following its natural correction maximum to 7483.
4. Taking an account of Fibonacci Ratio in Eliot waves, It's high probable to be supported on 8276USD rather than going down to touch 7483 at the same time in breaking the D point in harmonic bat.
5. If D point is breached, in short term, It can be said that 11,559USD should be a target of submicroscopic wave in Eliot principle
Note
Estimated target 8276 was reached. If not breached this point, As analyzed, This is the reversal point. Let's seeNote
Apeared that 8276 was broken but in a daily chart, But seems ended in whipsaw. If it would be broken til tomorrow, I see the wave bounced off from 8276 a impulse wave.Note
8276USD was defended and supported. I see the wave for now the impulse wave
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