Elliott Wave View: Bitcoin Closing in to All-Time High
Elliott Wave view in Bitcoin suggests the decline to $14351 ended wave 4. The crypto currency has since rallied higher in wave 5. The internal of wave 5 is unfolding as a nesting impulsive Elliott Wave structure. Up from wave 4 low at $14351, wave ((i)) ended at $15664.9 and pullback in wave ((ii)) ended at $14824.66.
Up from there, wave i ended at $15508.73, and wave ii dips ended at $15092.47. The crypto currency then extended higher in wave iii towards $16177, wave iv ended at $15599.40, and wave v ended at $16494.52. This completed wave (i) of ((iii)) in higher degree. Pullback in wave (ii) of ((iii)) also completed at 15708.
Up from there, wave i ended at $16163.57, and pullback in wave ii ended at $15786.46. It then extended higher in wave iii towards $16894.93, and wave iv ended at $16570. Near term, expect wave v of (iii) of ((iii)) to end soon. A wave (iv) pullback should then follow to correct the rally from wave (ii) low on November 14 before the rally resumes again. As far as November 14 pivot low at $15708.03 stays intact, expect dips to find support in 3, 7, or 11 swing for more upside.
Up from there, wave i ended at $15508.73, and wave ii dips ended at $15092.47. The crypto currency then extended higher in wave iii towards $16177, wave iv ended at $15599.40, and wave v ended at $16494.52. This completed wave (i) of ((iii)) in higher degree. Pullback in wave (ii) of ((iii)) also completed at 15708.
Up from there, wave i ended at $16163.57, and pullback in wave ii ended at $15786.46. It then extended higher in wave iii towards $16894.93, and wave iv ended at $16570. Near term, expect wave v of (iii) of ((iii)) to end soon. A wave (iv) pullback should then follow to correct the rally from wave (ii) low on November 14 before the rally resumes again. As far as November 14 pivot low at $15708.03 stays intact, expect dips to find support in 3, 7, or 11 swing for more upside.
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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.