nestay

EW - Ending Diagonal?

BITMEX:XBT   Bitcoin / US Dollar Index
Elliott Wave , RSI and fibonacci analyse by Nestay

High odds that we have an ending diagonal in play here. As expected in my previous ideas the last 1.5 years the 4K zone was the bottom of this bear market and this rally confirms it. We have seen five impulses up since 3400 USD that brought us a beautiful parabollic run. We broke out of the accumulation wedge with a 1K candle, re-accumulated around 5200 and a got a strong rally that gave us a gain of 180% in less than 5 months. It was worth the patience right?
Comment: We're still in the wedge and the ending diagonal continues. A target would be the 1.236 extension of the previous wave, which lays at the 9300 area. If the wedge does break down already it invalidates ofc
Comment: https://www.tradingview.com/x/uoA63tw8/Q... update. Wedge broke down and we visited my interest level at 7K. We don't need EW or fibs to see BTC printing a H&S, its respecting the old wedge from the LS and resistance from the top. Will it play out this time or will we ignore the H&S again and print a green dildo just after the RS like previous times?
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Comment:
An interesting trading idea. Good job.
Reply
@nestay
Buddy cool strategy. I think everything will work out. I will follow you, interesting how it will end!
+1 Reply
Tks for sharing
And this is my view
+1 Reply
Nice check mine out
+1 Reply
i have same bro
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TV likes to mess up the idea's format; here in printscreen version:
+2 Reply
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