Elliot Waves on BTC
Elliot wave theory states that the first wave of a five wave impulse move is a Wave 1 in the direction of the trend, and then a Wave 2 is a correction, the only requirement being it can't retrace the entire Wave 1, meaning higher lows. So yes BItcoin is stuck in it's horizontal triangle formation, it is consistently making higher lows at this point and we all know how bitcoin can move and any one of these waves could break the pattern and give us a Wave 3.
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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.