BITCOIN- Wave 4 Targets and path variations(7200, 6800, 6450)!
Can safely say that bitcoin completed Wave 3 (4.62 extension-8400), consequently based on the RSI divergence on 4 hours, we can currently expect a Wave 4.
2 variations for Wave 4 based on Elliott wave consolidation: 7200 (0.236 consolidation level) and 6450 (0.382). Personally I am more inclined towards 7200. Additional structural support levels are 7450 and 6700-6800.
This consolidation could take about 1-3 days. So during the weekend and based on volume, we can expect a slow buildup for wave 5.
>>If you liked this take on bitcoin, I would really appreciate a thumbs up or follow up for more.>>
It seems that especially this summer will be extremely volatile for all markets. There will be plenty of detailed analysis following up.
P.S. Do comment your agreeing TA or one with a difference of opinion!
2 variations for Wave 4 based on Elliott wave consolidation: 7200 (0.236 consolidation level) and 6450 (0.382). Personally I am more inclined towards 7200. Additional structural support levels are 7450 and 6700-6800.
This consolidation could take about 1-3 days. So during the weekend and based on volume, we can expect a slow buildup for wave 5.
>>If you liked this take on bitcoin, I would really appreciate a thumbs up or follow up for more.>>
It seems that especially this summer will be extremely volatile for all markets. There will be plenty of detailed analysis following up.
P.S. Do comment your agreeing TA or one with a difference of opinion!
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Bullish scenario option(RSI) Very though for it to break the hat, judging by the rsi on 3-8hr time frames. If it doesn't break the hat momentum could shift and a huge correction can occur.
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An optional bullish triangle with a target of 9150 for all the hard bulls out there.Note
Current daily outlook.
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I am sorry to inform all the bulls. But someone called it. I called it even higher to their bullish wants (7200) instead of 6400.
Eaaassy moneey.
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One possible estimation for wave 5 (target 1x, 1.62, 2.62 x wave 1).
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Newest-Wave 5 update.
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