BTC/USDT: 12 APR, 2024
© Master of Elliott Wave Analysis: Shane Hua (CEWA-M).
The broader context indicates that the 4-red wave is unfolding to push lower. It subdivides into the ((a))-green wave, and the ((b))-green wave is completing its role before the ((c))-green wave returns to push lower.
In the short term, the outlook provides more detailed insights. The ((b))-green wave subdivides into the (w),(x)-purple waves, and it appears that the (x) wave has bottomed out. Therefore, the (y) wave is currently unfolding to push higher, targeting $75.822, while the price must maintain above $67.518.
Invalidation point: 64493.07
The broader context indicates that the 4-red wave is unfolding to push lower. It subdivides into the ((a))-green wave, and the ((b))-green wave is completing its role before the ((c))-green wave returns to push lower.
In the short term, the outlook provides more detailed insights. The ((b))-green wave subdivides into the (w),(x)-purple waves, and it appears that the (x) wave has bottomed out. Therefore, the (y) wave is currently unfolding to push higher, targeting $75.822, while the price must maintain above $67.518.
Invalidation point: 64493.07
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