BTCUSD. Bitcoin Elliot waves. $25000?
Updated
I revised my forecast for bitcoin, because after breaking through the channel line (from which in the previous idea, I expected to see a rebound down), it became obvious that I had incorrectly chosen the reference point, and all current run, from 8200 to 17100, is (3) a wave , which ends in the region of 19000. Afterwards, I expect to see the continuation of the upward trend in (5) wave, up to 25000. The current ABC correction, in my opinion, is only 4 wave in (3) wave, and will end in the region of the previous peak of 1 wave .
After breaking through the channel line (a thick green line on the chart), it became support, and you can see a strong movement occurred after the rebound from this line at 8800.
The current movement is very similar to what we saw in May, on the chart you can see the blue candles, which are copied from the May schedule, and they coincide perfectly with the current price movement.
After breaking through the channel line (a thick green line on the chart), it became support, and you can see a strong movement occurred after the rebound from this line at 8800.
The current movement is very similar to what we saw in May, on the chart you can see the blue candles, which are copied from the May schedule, and they coincide perfectly with the current price movement.
Comment
"The current ABC correction, in my opinion, is only 4 wave in the composition (3) of the wave, and will end in the region of the previous peak of 1 wave."(Previous vertex 11441)
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Google translate, sorry."The current ABC correction, in my opinion, is only 4 wave in (3) wave, and will end in the region of the previous peak of 1 wave."
(Previous high 11441)
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Nice Hidden bull, expecting good bounce here
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It seems my main idea was more accurate than the additions in the comments :)Let's continue to ride the waves.
Trade active
25k on the wayComment
Possible EW count (Copied from July) Comment
Just to mention, it's quite possible too Comment
Looks like i was right, and we're in final phase of correction - 5 wave of C.Comment
Correction target hit, hope you bought the bottom. Bouncing with good volume
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