Is BTC in an Elliott Wave X Wave? Long into a possible short.

As the title states, is #bitcoin in a X wave or an impulse? Only time will tell the future at this point BUT as time progresses and as we fall further the chances of a valid X wave become more and more likely. EVEN with this idea we can still find a very valid trade set up based on the fact that we have made a 5 wave move from the lows that's 100% valid. So I am looking for a "Sister" move to follow sometime in the near future. Making this the low here will cause this idea to possibly turn into the impulse and not an X wave. Breaking below the last low IMO will open the doors to the running flat idea seen here as well and thus enhance the chances of the X wave. Breaking below the lows at 6.5K will cause the X wave to have a 75%-80% chance of being true. Breaking the purple line is allowed on low volume but must not be closes out of range of the DCB retrace between orange and yellow. Doing so will cause me to throw this entire idea out altogether and revert to new primary.

As of now I am looking for a buying opportunity to present itself. I want a close above the .68 as discussed and a break of the B to B TL seen there. A break and consolidation above will make me enter LONG, if price slides lower I will long the DCB zone below as it will be the most extreme of a valid flat and the R:R is really great at that point. The 100% outright bullish point will be closing 2-3 D1 candles over the W1 open.

Remember to always use your stop and practice good money management.

get the full detailed post with targets, fundamentals, and psychology added to the details.

https://www.elevate-trading.com/post/is-btc-in-an-elliott-wave-x-wave-long-into-a-possible-short

Cheers!

Trade fermée: cible de profit atteinte:

This played out nearly perfectly. GG