Long

Could BTC Head To 16-20k By End of August? (Elliott Wave)

Updated

Based on Elliott Wave/Neowave rules, It seems likely that we're forming a diametric pattern on the above 12 day chart. This means that each wave should be time similar for the next 5 waves, with 2 waves potentially being different in length, which means the entire diametric pattern should end sometime next year. It also appears that we are now beginning wave-C which could take us to 16-20k by the end of August. If this diametric continues to hold up into next year then it's likely we'll be over 50k by the end of next year, and potentially over 100k if we get a blow-off wave-G. I will be monitoring this chart closely and making adjustments as needed.

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(Wave Forecasts are not trading recommendations, trade at your own risk)

Note

Whichever way we break out from this extremely low volatility sideways will likely determine the immediate trend. If it breaks up then we should head to 16K+ if it breaks down then we could head much lower.

Trade closed manually

I've taken profit on this trade, will likely reopen soon.

Note

Following the longer-term for now, short-term is less clear

Intuit

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