Hello everyone,
Today I would like to go through a scenario with you in which the Bitcoin may have found a possible bottom.
This view opens up to me, since the wave cycle for wave C seems to be complete if counted more precisely. I am assuming that waves 1 and 3 are similar, which is why wave 5 has to be the longest.
If we look at wave 4 and we count the retracement of this wave, it becomes apparent that it has retraced more than 50%, which according to Elliot Waves could lead to a possible failed fifth and thus to a higher low. This is a very rare case that I wouldn't normally trade like this, but since wave 5 has taken the form of an ending diagonal, the chances of going long here are very good. A confirmation for this count would be around 53466.35 USD for me.
This is not investment advice, just my technical expertise.
RT
Today I would like to go through a scenario with you in which the Bitcoin may have found a possible bottom.
This view opens up to me, since the wave cycle for wave C seems to be complete if counted more precisely. I am assuming that waves 1 and 3 are similar, which is why wave 5 has to be the longest.
If we look at wave 4 and we count the retracement of this wave, it becomes apparent that it has retraced more than 50%, which according to Elliot Waves could lead to a possible failed fifth and thus to a higher low. This is a very rare case that I wouldn't normally trade like this, but since wave 5 has taken the form of an ending diagonal, the chances of going long here are very good. A confirmation for this count would be around 53466.35 USD for me.
This is not investment advice, just my technical expertise.
RT
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.