Bitcoin "Elliot Wave" Price Analysis
Updated
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Three Phase of Market
Phase 1 : Contraction (Range)
Phase 2 : Expansion (Bearish)
Phase 3 : Trend Up (Bullish)
This kind of pattern you can observe very often in a smaller time frame.Currently BITCOIN under Expansion phase as per the current phase we can expect price of BTC fall till $22700 to $22300. So buyers can act at end of expansion phase
Fresh Entry $23000
Target $25900
Stop Loss $22300
Happy Trading
Three Phase of Market
Phase 1 : Contraction (Range)
Phase 2 : Expansion (Bearish)
Phase 3 : Trend Up (Bullish)
- Contraction is a phase where price trade in a certain range
Expansion is a phase where bulls trap themselves this also called Stop Loss Hunting to get more cash in assest.
Trend Up is a phase where smart money will act as extreme bullish
This kind of pattern you can observe very often in a smaller time frame.Currently BITCOIN under Expansion phase as per the current phase we can expect price of BTC fall till $22700 to $22300. So buyers can act at end of expansion phase
Fresh Entry $23000
Target $25900
Stop Loss $22300
Happy Trading
Note
Bitcoin is moving as expectedNote
Trade closed manually
Note
In Trending Phase, Elliott Wave Structure is wrong, Please Ignore
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