Bitcoin Elliott Wave Intermediate WXY in Primary 4
As an alternative to the ABC count bitcoin could also be in a combination wave from 69k which is evidenced by the price structure that appears as 3-3-3 in each wave. In this pattern, wave Y should not exceed the 1.618 of intermediate (W) which is around 11,000 or so.
The main difference between the WXY and ABC counts is the maximum depth of the correction. ABC allows for a lower wave 4 end point because wave C can be the 1.618 or greater of AB.
The main difference between the WXY and ABC counts is the maximum depth of the correction. ABC allows for a lower wave 4 end point because wave C can be the 1.618 or greater of AB.
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.