BTC Elliott Wave + Ichimoku Kinko Hyo
Just mapping out a possible Elliott Wave impulsive move for the year, re. BTC. Just an idea. Includes concepts re. Ichimoku Kinko Hyo, time cycles (kihon suchi) and price interaction w/ the weekly komo cloud. See chart for comments.
Currently, looking for a completion of Wave 1 - it appears that today might mark the beginning of a wave 1.5 (sub 5). If so, the completion of this move, with a likely magnitude about 1 to 1.618 of wave 1.1, will start a month long corrective move.
Corrective moves are complex and challenging to trade. Furthermore, the completion of Wave 2 is difficult to predict.
This whole idea will be invalidated wave 2 taking much longer than anticipated, or by the price making new lows below the start of wave 1. Wave 2 can go as deep as the start of Wave 1, but not below.
Currently, looking for a completion of Wave 1 - it appears that today might mark the beginning of a wave 1.5 (sub 5). If so, the completion of this move, with a likely magnitude about 1 to 1.618 of wave 1.1, will start a month long corrective move.
Corrective moves are complex and challenging to trade. Furthermore, the completion of Wave 2 is difficult to predict.
This whole idea will be invalidated wave 2 taking much longer than anticipated, or by the price making new lows below the start of wave 1. Wave 2 can go as deep as the start of Wave 1, but not below.
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