Bitcoin / TetherUSShort
Bitcoin Intraday analysis; ABC to upside completed!
Bitcoin has completed an ABC correction to the upside in which we had an intial 5 wave impulse wave off the $18200 lows to form A wave , we then had a 5-3-5 sub wave structure to form the B wave at a low of $18650 before embarking on a C wave incline which was extremely impulsive with clear subwave structure as identified on the chart. Notably; price rejected on the ~1.382 fib extension of A wave to a tee, and appears to have formed 5 waves to complete the C wave. Where does price head from here?
There is possbility that a WXY complex corrective structure has been completed; essentially a triple zig-zag forming a Wave 2 completion. Of which a 3rd wave to the downside could be imminent to the $15500 area, if you have followed my previous ideas, it is conceptualised that a possible 1,2 , 1,2 impulse structure to the downside has been formed from the MACRO WAVE 4 TOP at ~$25200 which can take Price towards $10,800 area, of course targets will be more easily projected as price progesses.
Confirmation of bearish sentiment depends on how support areas at $19650-$19800 react aswell as other regions bitcoin has consolidated in the previous month.
Please like and follow for more advanced elliot wave forecast!
There is possbility that a WXY complex corrective structure has been completed; essentially a triple zig-zag forming a Wave 2 completion. Of which a 3rd wave to the downside could be imminent to the $15500 area, if you have followed my previous ideas, it is conceptualised that a possible 1,2 , 1,2 impulse structure to the downside has been formed from the MACRO WAVE 4 TOP at ~$25200 which can take Price towards $10,800 area, of course targets will be more easily projected as price progesses.
Confirmation of bearish sentiment depends on how support areas at $19650-$19800 react aswell as other regions bitcoin has consolidated in the previous month.
Please like and follow for more advanced elliot wave forecast!
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.