Part 3 – 2H Chart – The Last Sell-Off and The Big Rise
Intermediate (C) (red) – Elliott Wave Analysis
Minor 1 (red) breached through the Ascending Channel in Intermediate (B) (red), and thus, a new bearish door has been opened for BTC/USD. Minor 1 (red)
shows an extension in Minute iii (red) and a Triangle in Minute iv (red).
Minor 2 retraced the default 50-61.8% Fibonacci Retracements of Minor 1 (red), unfolding within an Ascending Channel, in Double Three, within its WXY
(purple) sub-waves.
Minor 3 (red) already commenced a possible bearish impulse, with Minute i (red) hovering around the lower trend-line of the Channel, awaiting the breach
and the sell-off confirmation.
Should the breach occur, within Minor 3 (red), Minute ii (red) would be expected to retrace and retest the Channel with a 61.8% pull-back towards approx.
$6500.
Minute iii (red) could reach lower, towards the 100% Fibonacci Extensions of Minors 1 & 2 (red), which would reflect the $5500 vibration zone.
Minute iv (red) would retrace approx. 38.2% of Minute iii (red), after which Minute v (red) could reach as low as $4800 levels before a retest of the $5500
levels.
As this projected impulse would unfold, and if the analysis would be on track with the mentioned projections, then BTC/USD would bottom out at or around
the $3500 levels, along with Minor 5 (red).
BTC/USD Summary:
• Short and medium-term: Bearish from the $6500 levels, towards the $3500 levels.
• Long-term: Bullish from the $3500 levels, towards an amazing bullish journey, projecting as high as $35000 levels.
This idea was created by Lionheart-EWA
Minor 1 (red) breached through the Ascending Channel in Intermediate (B) (red), and thus, a new bearish door has been opened for BTC/USD. Minor 1 (red)
shows an extension in Minute iii (red) and a Triangle in Minute iv (red).
Minor 2 retraced the default 50-61.8% Fibonacci Retracements of Minor 1 (red), unfolding within an Ascending Channel, in Double Three, within its WXY
(purple) sub-waves.
Minor 3 (red) already commenced a possible bearish impulse, with Minute i (red) hovering around the lower trend-line of the Channel, awaiting the breach
and the sell-off confirmation.
Should the breach occur, within Minor 3 (red), Minute ii (red) would be expected to retrace and retest the Channel with a 61.8% pull-back towards approx.
$6500.
Minute iii (red) could reach lower, towards the 100% Fibonacci Extensions of Minors 1 & 2 (red), which would reflect the $5500 vibration zone.
Minute iv (red) would retrace approx. 38.2% of Minute iii (red), after which Minute v (red) could reach as low as $4800 levels before a retest of the $5500
levels.
As this projected impulse would unfold, and if the analysis would be on track with the mentioned projections, then BTC/USD would bottom out at or around
the $3500 levels, along with Minor 5 (red).
BTC/USD Summary:
• Short and medium-term: Bearish from the $6500 levels, towards the $3500 levels.
• Long-term: Bullish from the $3500 levels, towards an amazing bullish journey, projecting as high as $35000 levels.
This idea was created by Lionheart-EWA
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.