First of all let me kick of with the fact that there are many valid elliott counts to be done on our chart, and this is simply my preferred bullish count.
Secondly, it might very well be possible that the overall sentiment in the stock market influenced the eventual count that BTC might create here, it looks clear to me that DJI will aim for that 0.618 as well... (like I have been saying for a long time already and yesterday charted in an idea to show you clearly).
Last but not least, nothing is 100% certain at this moment, everything is still suspect to change, the bears might still be in perfect control as long as the daily doesn't close above 7100. Having a bullish count doesn't mean it will reach 8k and end below 8.2k, this is simply my view on the bullish potential, DYOR! And most of all check previous activity, you will see that wave 3 of 5 perfectly retraced to the 0.618 (that what rises hard will fall hard...).
Good luck!
Secondly, it might very well be possible that the overall sentiment in the stock market influenced the eventual count that BTC might create here, it looks clear to me that DJI will aim for that 0.618 as well... (like I have been saying for a long time already and yesterday charted in an idea to show you clearly).
Last but not least, nothing is 100% certain at this moment, everything is still suspect to change, the bears might still be in perfect control as long as the daily doesn't close above 7100. Having a bullish count doesn't mean it will reach 8k and end below 8.2k, this is simply my view on the bullish potential, DYOR! And most of all check previous activity, you will see that wave 3 of 5 perfectly retraced to the 0.618 (that what rises hard will fall hard...).
Good luck!
Note
Placed a Limit long at 6970 and 6850.Trade active
Don't get scared out of your positions yet! This is still looking more bullish than bearish. The golden zone was a perfect touch/fill which is very good and bullish and a perfect entry for those who dared to long until proven otherwise... We just hit the short term 0.786 from the overnight recuperation and had a small bounce from it. If we get a green hourly candle over the ocming 2/3 hours, bulls are still in control over the short to medium term.Related publications
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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.