A completed 5th Elliot impulse wave followed by a corrective ABC pattern might have Bitcoin on another bullish path...
- Cup and Handle Formation
- Wave 1 with wave 2 completing on the 38.2% retracement
- Height of this potential Cup and Handle execution would coincide with a fully completed 1-2-3-4-5 impulse wave
- Stop would be placed just beneath handle
* 1 Hour Chart Play
- Cup and Handle Formation
- Wave 1 with wave 2 completing on the 38.2% retracement
- Height of this potential Cup and Handle execution would coincide with a fully completed 1-2-3-4-5 impulse wave
- Stop would be placed just beneath handle
* 1 Hour Chart Play
Note
Apologies for the edits***Note
Better on the eyes...Note
Waves 4 and 5 next?Note
Bitcoin is... angry......
Note
*Meant to place here in updates not comments section*May have been best to have a slightly lower TP zone(such as the blue box) Wave 5 does not always surpass 3. Wave 3 extended to the 1.272. Will we see a retest of support turned resistance (see red "dots" and line) at the .382 retracement which correlates with this line?
Note
Trade would best be closed - Target was $11300Price MAY have topped at $11200 in the near term
Note
Looks like a nice flag is developing for the 5th wave.Note
Target Hit.
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.
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.