A scenario where BTC has topped at $69k in Nov
We seem to have made a higher low recently bouncing off a trendline from the Mar 2020 Covid Crash (red)
I think we should retest the top of the rising wedge (purple) at minimum before being rejected down
Where we should fall into a descending channel (light green) then bounce of the channel BTC has been mostly in since around 2018 (orange)
Ultimately it could fall as far as the white bottom of this channel, which has had confluence since the 2013 peak
I used trendlines combined with a fractal on BTC to predict roughly the next primary wave structure. I used WXY patterns (green) just to flesh out the structure along the lines of the fractal I used. The Elliot wave counts are not correct
We seem to have made a higher low recently bouncing off a trendline from the Mar 2020 Covid Crash (red)
I think we should retest the top of the rising wedge (purple) at minimum before being rejected down
Where we should fall into a descending channel (light green) then bounce of the channel BTC has been mostly in since around 2018 (orange)
Ultimately it could fall as far as the white bottom of this channel, which has had confluence since the 2013 peak
I used trendlines combined with a fractal on BTC to predict roughly the next primary wave structure. I used WXY patterns (green) just to flesh out the structure along the lines of the fractal I used. The Elliot wave counts are not correct
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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.