saldejummi

BTC Bullish Elliott Wave Scenario

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
Minute wave 3 completed near 9800. We are now on minuette wave (c) on minute wave 4. Wave 4 could be a zigzag that has completed diagonal minuette wave (a) and zigzag minuette wave (b) and is now trying to complete its final minuette wave (c) that appears to be a triangle (contracting or expanding depending where subminute wave d completes). The wave (c) triangle completes successfully if micro ABC waves complete roughly as seen in the chart. If wave (c) triangle completes there is a good risk reward ratio for going long. In that case, entry would be around 8600-8700 and stops around 8500-8550. A safe target would be 8900-9000.
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.