In my last report I suggested longs when Bitcoin was trading around 3757, after which it went up to achieve all the suggested targets and made a high near 5870.
The leg up from the 2970 low seems to be a 3 legged move up for Wave B (Red) of an A-B-C Expanded Flat correction.
Which means that if this analysis is correct then we are currently in Wave C down of this Flat correction which can take Bitcoin down to the levels of :
Target 1 : 4671
Target 2 : 3899
Target 3 : 2665
SL : Above 5880
If the Invalidation level of 5880 is hit then this count will be invalidated.
It is also worth noting that Wave B = 138.2*Wave A which gives further confidence to this setup.
The leg up from the 2970 low seems to be a 3 legged move up for Wave B (Red) of an A-B-C Expanded Flat correction.
Which means that if this analysis is correct then we are currently in Wave C down of this Flat correction which can take Bitcoin down to the levels of :
Target 1 : 4671
Target 2 : 3899
Target 3 : 2665
SL : Above 5880
If the Invalidation level of 5880 is hit then this count will be invalidated.
It is also worth noting that Wave B = 138.2*Wave A which gives further confidence to this setup.
Trade closed: stop reached
Unmatched 80% plus forecast accuracy for 6 years : 50eyes.com/forecast-accuracy/
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
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.
Unmatched 80% plus forecast accuracy for 6 years : 50eyes.com/forecast-accuracy/
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
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.