In this post, I am going to do a Harmonic Elliott Wave Analysis on BTC.
First, I see the price action of BTC from August 2011 to November 2021 as 5 complete waves to form the largest-degree wave A. Since then, BTC has started a correction as wave B in the form of a triple zigzag:
Looking into more details of wave (Z) on the daily chart, I would say that waves A and B of (Z) are complete and we are in wave II of C of (Z) at the moment.
First, I see the price action of BTC from August 2011 to November 2021 as 5 complete waves to form the largest-degree wave A. Since then, BTC has started a correction as wave B in the form of a triple zigzag:
Looking into more details of wave (Z) on the daily chart, I would say that waves A and B of (Z) are complete and we are in wave II of C of (Z) at the moment.
Note
Updated count on the daily chart:Note
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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.