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BTC Elliott waves idea, Inverse Head & Shoulders. 4900-5800usd

Updated

Hi all, Here is my idea about Elliott waves, there is two possible scenario,
1. we are in 4 waves now, and we can continue to 4900-5800usd, after that for last waves down target around 2650-1900usd.
2. we found the bottom waves 5 around 3200usd, forming The Head & Shoulders pattern and go for 4900usd soon.

Just my view and idea

I appreciate if you get your idea to comment.

Thank you

Note

Hi all, after solid run to 4200usd now we see some correction, price is around 3700usd.

Here are 3 ways:
1. We can go to 3500-3560usd and bounce to 4000usd, there will be big chance for head and shoulders, for me its the most likely scenario
2. We can drop to 3200usd and do double bottom, tested our support and after with clear shield go up.
3. This correction from 4200usd is just small correction wave 123, and we can go for 4 wave to 4800-5000usd

in next hours we will know more.

Thank you

Note

Hi all, today we are near are around 3500usd, there can be possible low right shoulders, there is breaking point for now.

In previous update I write 3 possible scenario, all still in the game, we will see, rsi looks good here on 1D.

Note

Hi BTC show us solid bounce from 3550usd, we can created right shoulders around 4000usd if we break out this resistance with solid volume, this can be open space for 4800-5000usd, if not we can already tested 3200usd again

Note

HI all now BTC is neutral without action, but this can change every minute, looks now possitive on 4h chart, we see some divergence on RSI and Stoch, if can be continue we can tested 4000usd, we need tested and break up this area. if there be sideway action without volume we can easily drop down to 3500-3200usd, I hope that soon we see bigger volume.

Note

Hi all, today we broke our little falling wedge, so divergence in last update play good, now we are around 3800usd, but if we want to tested 4000usd or more, we need see bigger volume now, MACD crossing today on 4h chart, all 3 scenarios still in play, I will be update it

Note

Head and shoulders not confirmed, so now in play 2 and 3 scenario in previous updates, we can go easily for double bottom or if resistance 3500usd hold we will see bounce to 4000usd or more.

crypTouche

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