Not amazingly original, other TA has observed these patterns but this is my Elliot wave take on possible price targets.
Two head and shoulder patterns (second one not yet formed) are helping confirm the neat Elliot wave channel that BTCUSD is carving out. I used these, and Elliot wave typical ratios to plot the Elliot wave lengths. (wave 3 mostly 1.618 x wave 1, wave 5 same length as wave 1)
Green impulse, wave 3 is 2.618 X wave 1, hold on to your hats!
If this plays out BTCUSD will be challenging AllTimeHighs at the completion of this wave.
Be aware that this impulse could be wave B of an ABC correction from the AllTimeHigh meaning it could still turn around and a new low of 3-5k could be expected.
Trade cautiously but with conviction!
Two head and shoulder patterns (second one not yet formed) are helping confirm the neat Elliot wave channel that BTCUSD is carving out. I used these, and Elliot wave typical ratios to plot the Elliot wave lengths. (wave 3 mostly 1.618 x wave 1, wave 5 same length as wave 1)
Green impulse, wave 3 is 2.618 X wave 1, hold on to your hats!
If this plays out BTCUSD will be challenging AllTimeHighs at the completion of this wave.
Be aware that this impulse could be wave B of an ABC correction from the AllTimeHigh meaning it could still turn around and a new low of 3-5k could be expected.
Trade cautiously but with conviction!