Bitcoin Elliott wave projection
Updated
BTCUSD is about to accomplish the sub-wave C of the corrective wave ((4)).
Wave ((4)) is forming a running flat pattern, where wave B has exceeded the origin point of wave A.
But due to lack of bear power, wave C is too weak to break the ending point of wave A.
It Indicates bulls are strong at the movement.
But, the price can still break wave A to complete the expanded flat correction, if the price breaks the recent low of 33950.
Price has retreated from 50% at 34244, and we have seen a price surge.
I will upload further information soon.
Weekly chart:
Wave ((4)) is forming a running flat pattern, where wave B has exceeded the origin point of wave A.
But due to lack of bear power, wave C is too weak to break the ending point of wave A.
It Indicates bulls are strong at the movement.
But, the price can still break wave A to complete the expanded flat correction, if the price breaks the recent low of 33950.
Price has retreated from 50% at 34244, and we have seen a price surge.
I will upload further information soon.
Weekly chart:
Note
Reversed from 50%. However, price has to confirm bull run.
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.