With this example of Bitcoin I look at a few different options and levels to watch.
Firstly on a simple Double ABCD down to the 25500 area which would be a 67% retracement from the March 2020 lows.
The next is the idea of a flat Elliott Wave correction would take us to the same level as with that we look at the distance above and the distance below previous highs/lows. These levels are the April 2021 high being a wave 3 and the June 2021 low being an A corrective wave. Roughly 4000 points either side giving us a completed wave 4 and then starting the wave 5 towards 80k+.
The other option is a PB to 38000 50-618% of the current move up then rally from there.
Any one of these options is going to give us a great buying opportunity shortly.
I hope this helps. Enjoy the day!!
I will post updates as we go along with possible trade oppotunities. 👍👍
Firstly on a simple Double ABCD down to the 25500 area which would be a 67% retracement from the March 2020 lows.
The next is the idea of a flat Elliott Wave correction would take us to the same level as with that we look at the distance above and the distance below previous highs/lows. These levels are the April 2021 high being a wave 3 and the June 2021 low being an A corrective wave. Roughly 4000 points either side giving us a completed wave 4 and then starting the wave 5 towards 80k+.
The other option is a PB to 38000 50-618% of the current move up then rally from there.
Any one of these options is going to give us a great buying opportunity shortly.
I hope this helps. Enjoy the day!!
I will post updates as we go along with possible trade oppotunities. 👍👍
Comment:
We have entered the 50-61.8% possible bullish turn area. Interesting few days ahead.
We have entered the 50-61.8% possible bullish turn area. Interesting few days ahead.
Comment:
Looking like a turn area coming up soon after a 3 drive pattern.
Looking like a turn area coming up soon after a 3 drive pattern.
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A shorter TF look at AI and patterns.