Elliot Wave Pattern on AMB/BTC - Is Impulse Wave 3 coming?
Very interesting pattern on the Chart for AMB/BTC . I'm not 100% sure if you can draw the beginnings and endings of waves on a mix of closes and wicks (can't find that info anywhere), but if you can, this chart fits the fibonacci retracements so far and the Elliot Wave theory like a shoe!
If it does follow the wave pattern as is drawn, the bull rally would gain new momentum (which according to the MACD , it seems to do) and at the end of the overall impulse pattern (yellow), end up at the highest price Ambrosus saw in October 2020, bevore going into a big correction wave again. This might be fortune telling right here.
Of course, just an idea of a novice, no financial advice!
Would love to hear your thoughts!
If it does follow the wave pattern as is drawn, the bull rally would gain new momentum (which according to the MACD , it seems to do) and at the end of the overall impulse pattern (yellow), end up at the highest price Ambrosus saw in October 2020, bevore going into a big correction wave again. This might be fortune telling right here.
Of course, just an idea of a novice, no financial advice!
Would love to hear your thoughts!
Comment:
The comments on the chart should say "highest Price in Oct' 2019", we left the prices of October 2020 behind us already, sorry.
Comment:
Double Bottom with bullish divergence on the RSI on the 4h chart