We have deduced that the Bitcoin price action wave pattern off the 20k price high is a Complex Combination commonly referred to as an Elliott Wave Triple Three- W-x-Y-x-Z. It is our tentative forecast that.
Price action is between the 61.8% and 78.6% Fibonacci :
One can notice the capitulation price action nature quite indicative of a final Termination Wave....
From an Elliott Wave standpoint the price action varies from market maker to market maker. On the coinbase broker we have an irregular flat pattern a-b-c that is currently in the wave c. The wave c structure appears to be playing out as a wedge patter that moves in 5 3 wave movements that whereby the wave IV reaches above the terminus point of wave I. The...
The a-b-c irregular flat pattern is expected. The momentum is expecting to wane above 17697. AS of the time of typing this market rose to 17032. A look at the minutes suggest that the most recent high was of the end of wave b and the wave c down now should come underway and market price should find support at 13501 minimum.
We shall keep an eye out for a failed...
This is an extremely tight yet high probable setup because per ellliott wave guidelines our short term count/setup is wrong if market breaks 1.1595 in the near term (minutes charts)
Buy @ Market 1.1605-1.1613
Target W (1.1573-1.1687=114pips) = Y
up from 1.1595