TradingView
Joseph_King
Jun 4, 2022 7:07 AM

Bitcoin Elliott Wave Idea 

BITSTAMP:BTCUSD1W
Bitcoin / U.S. dollarBitstamp

Description

⋅
An follow up on a previous idea below:


I previously theorized that there would be an impulsive wave to a new all time high, which did happen, but what occurred afterwards didn't fit the rest of my idea.

I believe now that Bitcoin is in the middle of large corrective pattern as part of a wave 2 that could eventually end at the 0.618 level at $24,000, but not before a surge upwards...
Trend AnalysisWave AnalysisElliott WaveBTCBTCUSDBTCUSDTBitcoin (Cryptocurrency)cryptoCryptocurrency
Comments
cache_that_pass
⋅
To clarify.. you believe that the bottom is already in?
arvine11
⋅
@cache_that_pass bottom maybe in december
Joseph_King
⋅
@cache_that_pass,
I think its possible; if you look at daily chart there is bullish divergence and the recent low was the 0.618 extension
Joseph_King
⋅
Not ruling out a small dip below 28k thought in short term, 4H looks like it could be a 5th wave missing
FiboTech
⋅
I agree orders in the 60 range are needed to lower the price to the lower ranges.
arvine11
⋅
if goes to 60k thats amazing
More