BitcoinLong
BTC/USD Elliott Wave Analysis - Impulse Wave Expected After Corr
Analyzing the 2-hour chart of BTC/USD, we observe a completed ABC correction. Wave A was characterized by a sharp decline, followed by a consolidation phase in Wave B. Wave C completed the correction, signaling the potential start of a new impulse wave.
We expect BTC to move upwards from the current level around 63,957, aiming for a target near 66,400, as indicated by the blue dotted line. This projection aligns with typical Elliott Wave Theory patterns where an impulse wave follows a corrective phase.
We expect BTC to move upwards from the current level around 63,957, aiming for a target near 66,400, as indicated by the blue dotted line. This projection aligns with typical Elliott Wave Theory patterns where an impulse wave follows a corrective phase.
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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.