Get started
Bitcoin
Long

BTCUSD Elliot Wave Idea

By tl93
Updated
BTCUSD appears to be nearing the top of Wave 3 of the 5-count Elliot impulse wave that started in October of this past year. I believe 30k will serve as the top of this wave, with a corrective 4th wave dropping the pairing to the 24-25k support area. The 5th and final wave could take the pairing to a huge high nearing 50k, and with the rate these impulse waves usually playout, the top could hit as soon as early March 2021. An ABC corrective wave would cause the coin to retest a long and well-established trendline that started after recovery from the March 2020 COVID crash.
Trade closed: target reached
Bitcoin (Cryptocurrency)BTCUSDcryptoCryptocurrencycryptotradingElliott WaveTechnical AnalysisTrend Analysis
tl93

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.