The BTCUSD at that zone where trader should avoid the action.Mandatory 0.786 retracement of the XA leg (approximately B retraced) & AB = CD to be a valid signature.
The most critical number in the pattern is the 1.27 XA leg for BC project
Exactly, we have seen a reversal from the D point.
I've pre-projected Triangle which is only my expectation without any confirmation nor verification. This is my internal feeling and & experience base. We should avoid trading in this case. Just wait for my new post and you can comment if you have any queries.
My last research on BTC:
Kinnariprajapati
Part 1: EW comlpted full cycle-(EURUSD), What is next?Let me reveal out the Wave Counting from Basic and then, we will move to lower TimeFrame to determine actual trading levels.
The primary wave of motive cycle has-been started since 2000 and completed in 2008 on the weekly chart.
The primary W. 1 + W.5 is equal to W. 3 approximately, therefore, you can say the impulsive W.3 is extensive.
It was clearly understandable Bull market-label denoted by 5 Waves & Bearish market for w,x, and y.
Let's talk a little about the new phase:
If the price not falling below 1.03591, then the price will be ready for wave 3. Another confirmation, the price moving above wave 1 (1.25513) is also uptrend confirmation.
Simple Logic + Elliott Wave Basic + Harmonic on Bitcoin...Wave 1:
It's formed Leading Diagonal which is labialized by A, B, C, D, and E.
Wave 3:
It's not an impulsiv e move therefore we looking "Throw-Over" of the Parallel Channe l for 5th Wave.
Wave 4:
The Contracting Triangle has been possessed in it.
Wave 5:
To determine 5-Wave, I have utilized the following :
1) Parallel Channel
2) Spike Box (i), (ii), (ii) which indicated that end of the triangle we're getting a spike on BTC.
3) Harmonic pattern can give us the exact level to decide the next move and pattern name.
I will work on the Harmonic Pattern if I got enough LIKES and Respect from TradingView.
Thank you.
My past research of Bitcoin :