Two Possible Scenarios for #BTCUSDT in the weekly timeframe
Hello Crypto Traders
As it is clear in the chart we could possibly be following a Running Flat Correction Pattern (ABC). Based on Eliot waves theory there are 2 potential targets for the B leg of this pattern, either 1.236 extension fib level or 1.361. if this is the case (and based on the volume I believe it is) we must see the targets depicted for leg C as shown in the chart. Remember we could still have a run for 30k, yet it will still be a correction pattern. Let me know if you opine otherwise and feel free to draw your own Eliot Wave patterns.
Good luck everyone and have a profitable week.
As it is clear in the chart we could possibly be following a Running Flat Correction Pattern (ABC). Based on Eliot waves theory there are 2 potential targets for the B leg of this pattern, either 1.236 extension fib level or 1.361. if this is the case (and based on the volume I believe it is) we must see the targets depicted for leg C as shown in the chart. Remember we could still have a run for 30k, yet it will still be a correction pattern. Let me know if you opine otherwise and feel free to draw your own Eliot Wave patterns.
Good luck everyone and have a profitable week.
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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.