user100000

Elliott Wave Analysis of BTCUSD/BITSTAMP; 4H

Long
BITSTAMP:BTCUSD   Bitcoin
That was an unusually long wave (ii) correction. I labeled it as a WXYXZ because nothing else seems to fit that pattern. I'm not sure if wave Z is complete but it can't go much lower since this is an impulse wave so it has to maintain some reasonable upward slope for the channel
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.