After some drawing and drawing it seems BTC has to go back. Maybe after a pullback to 42ish. Where maybe all people at set SL from the last peak.
I won’t think it would go above, why? Because a lot of people os waiting to 42.5 to recover or exit from the last time a month ago.
Also, all the possible drawing under my Elliott educational level, shows we need to go down to finish cycle wave 2 and start wave 3(red line).
Another possibility not in graph was to except being on wave 2 going to wave 3, would be finishing wave B and starting wave C. This would set a target of 60/70ish rather than 110/180k ish if we would be in wave 2.
Both scenarios shows we need to around 28/27 to bounce to 60/70 or 110/180K
I won’t think it would go above, why? Because a lot of people os waiting to 42.5 to recover or exit from the last time a month ago.
Also, all the possible drawing under my Elliott educational level, shows we need to go down to finish cycle wave 2 and start wave 3(red line).
Another possibility not in graph was to except being on wave 2 going to wave 3, would be finishing wave B and starting wave C. This would set a target of 60/70ish rather than 110/180k ish if we would be in wave 2.
Both scenarios shows we need to around 28/27 to bounce to 60/70 or 110/180K
Note
It seems i missed the pullback level, waiting for a ZigZag and being a longer one.My setup still the same, but the pullback could occur 51k or 56k is wave 5 is extended
Note
It seems, the end of wave 2 was 28k and now we are in the wave 3 towards 120k
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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.