Here is a possible Elliott Wave Scenario for Bitcoin. If my count is right, Wave 3 is over and we should be looking at a Wave 4 drop. I’ll be looking to get into 5th Wave. Check out the chart, Wave 5 target isn’t for sure yet, won’t have that until I can get a final wave 4 end. Let me know what you think and share your ideas!
I agree BTC is looking bullish for the long term. 1D and 2D RSI are extremely bullish, and once RSI completely extends to the overbought region, RSI bearish divergences can keep on developing with price making new highs.
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PhilVo
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It is a healthy drop. We need it before it gets to the target.
CryptoGuru369
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Great chart and thanks for sharing!!!
CryptoFunded
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Great call!
TradingEW
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Channel lines for Elliott Waves are a fantastic tool for locating the exact terminals of wave 1,2,3 and 4 of impulse wave sometimes with amazing results, however, they are seldom parallel due to Alternation of wave 2 and 4, when wave 2 is simple 4 would be complex and visa versa.
TheAlaskanTrader
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@TradingEW I agree, most of time I just use channels to show direction of and base my entry of fib levels. Thanks for looking at my idea!
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