Elliot Wave Pattern on AMB/BTC - Is Impulse Wave 3 coming?

22 mars 2021

Very interesting pattern on the Chart for AMB/BTC . I'm not 100% sure if you can draw the beginnings and endings of waves on a mix of closes and wicks (can't find that info anywhere), but if you can, this chart fits the fibonacci retracements so far and the Elliot Wave theory like a shoe!

If it does follow the wave pattern as is drawn, the bull rally would gain new momentum (which according to the MACD , it seems to do) and at the end of the overall impulse pattern (yellow), end up at the highest price Ambrosus saw in October 2020, bevore going into a big correction wave again. This might be fortune telling right here.

Of course, just an idea of a novice, no financial advice!

Would love to hear your thoughts!

22 mars 2021

Note

The comments on the chart should say "highest Price in Oct' 2019", we left the prices of October 2020 behind us already, sorry.

23 mars 2021

Note

Double Bottom with bullish divergence on the RSI on the 4h chart