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MMBTtrader
Feb 14, 2021 6:23 AM

BTCUSD is completing Elliott impulse wave (12345) and soon (ABC) Short

BITSTAMP:BTCUSD120
Bitcoin / U.S. dollarBitstamp

Description

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as we can see we expect that when wave get completed open sell position or take profit on long trade

we believe that end of this would be around 50K---51K based on Fibooancci structure or even 54K

then we can expect some falling all the way to 45K that is important support taken from trendline

there is two more scenario shown on chart with orange path and is not perfectly visible that would happen with emotional market and both is bearish

((BTC is so Strong right now)) be ware of this and you can see two past analysis (below linked) too that both was bullish scenario

<<Traders comment below and let me know your thinking about this analysis even simple ((agree)),((not sure))>>
Trend AnalysisHarmonic PatternsWave Analysis
Comments
losingup
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3 shortest?
4 retracing into 1?
Not a valid count the way you've drawn it.

Zoom out to the weekly and there is one though.
MMBTtrader
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@losingup, --++
MMBTtrader
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wall-street-opinion
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@MMBTtrader, this one was perfect thanks for sharing to us bro hope earn more profit on new one too 😈🤑😅
MMBTtrader
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@wall-street-opinion, yup this one was one epic one we set our long position as expected near 44K and price came to 39800 and we enter

then we expected 46K and 48K for first target and now stop loss are in great profit that if the price need to rest and retest 44K area again we push out with good and high profit
shg228
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how come wave 1 and 4 overlap and wave 3 is the shortest ?
BitonGroup
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don't you think Bit may fall more? nice chart thou
MMBTtrader
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@BitonGroup, totally agree but for now i put setup that with one or two day target reach
and don't fighting with this bullish market right now
Ari99
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This isn't an elliot wave, elliot waves require the second impulse wave to be the longest....
MMBTtrader
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@Ari99, --++
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