LisaNEdwards

BTC CORRECTIVE STRUCTURE - NOW

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hey Traders and Hopeaholics!

Quick run-through current corrective structure from an ELLIOTT WAVE pov!

TRIANGLE (YELLOW)

Triangle formations are corrective patterns that are bound by either converging or diverging trend lines .
Triangles are made up of 5-waves that move against the trend in a sideways fashion. These triangles can be symmetrical, descending, ascending, or expanding.

FLATS (PINK)

Flat formations are simple sideways corrective waves.
In flats, the lengths of the waves are GENERALLY equal in length, with wave B reversing wave A’s move and wave C undoing wave B’s move. We say generally because wave B can sometimes go beyond the beginning of wave A.

ZIGZAG (AQUA BLUE)

Zig-zag formations are very steep moves in price that goes against the predominant trend.
Wave B is typically shortest in length compared to Waves A and C.
These zig-zag patterns can happen twice or even thrice in a correction (2 to 3 zig-zag patterns linked together).
Like with all waves, each of the waves in zig-zag patterns could be broken up into 5-wave patterns.

Information from Babypips for education purposes only.
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If you are unsure of direction or feel you are over trading I have a moto. IF IN DOUBT SIT IT OUT! There is no shame in not being in a trade. Stick to your game plan, wait for a set up to be confirmed, and ONLY take a trade if it all aligns.

So please I welcome your comments and CONSTRUCTIVE FEEDBACK - ALL HATERS WILL BE FLAGGED AND REPORTED!
And remember, there is NO RIGHT OR WRONG in trading - just money management!

REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION
(minimize your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!!

<3 Lisa

DISCLAIMER:

The Legal stuff - I'm not a financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons...

PS make sure you give me alike, that way you get updates as I post them.... :) <3
Comment: CLOSE UP ON THE WEEKLY
shows our BULLISH pivot is very possible (after correction)
❣️Lisa N Edwards❣️
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Comments

Here is what we analyzed:
+2 Reply
LisaNEdwards Sparkster
@Sparkster, so squiggles are potential wave moment?
Reply
Now that we closed well above the bullish pivot on the daily are we looking to test the parabolic resistance at 10522 on your weekly chart?
+1 Reply
LisaNEdwards drdavidscrypto
@drdavidscrypto, long term diagonal resistance from the ATH is around 10,200, so we may end there, but possible wick higher to 10,522 for sure
Reply
hi, good analysis
rate my chart please, what do u think? ty for time
+1 Reply
LisaNEdwards trytofeelpositive
@trytofeelpositive, similar to what I see :)
Reply
Thanks..
+1 Reply
LisaNEdwards Paul-adam
@Paul-adam, you're welcome
Reply
good deal, I like that.
+1 Reply
LisaNEdwards ProjectSyndicate
Reply
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