Bitcoin / TetherUSUpdated We are now on the impulsive direction again?
I am new to Elliot wave and this is just my Educational thought.
I saw a trend reversal signal when the price break the sub-downtrend line (Purple line), then fail to make a lower low and a lower high. If the corrective waves (2) is correctly labeled as an ABCDE triangle correction, then we are on the begining of waves 3 (Blue) with sub-waves 1 & 2 just've been finished.
Share your thought. Thanks.
I saw a trend reversal signal when the price break the sub-downtrend line (Purple line), then fail to make a lower low and a lower high. If the corrective waves (2) is correctly labeled as an ABCDE triangle correction, then we are on the begining of waves 3 (Blue) with sub-waves 1 & 2 just've been finished.
Share your thought. Thanks.
Note
Price has to break out of the long term trendline (the Red line) to confirm uptrend countinuous.
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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.