BITCOIN: Elliott Wave & Channel

5 set

Greetings, everyone.😉

I would like to present a scenario for your consideration, grounded in "Elliott Wave Theory".

[Recent Chart Zoomed In]

✔️ Wave initiated from the 15K level: Classified as a "Double Zigzag"
✔️ Current wave in development: Y-c-3
✔️ Projected upward range: 93K ~ 101K

The rationale behind this analysis is as follows:

1. Zigzag patterns typically move within a parallel channel.
   
2. The first zigzag wave, which started from the 15K level, adhered precisely to this parallel channel.
   
3. As a result, the likelihood of a complex correction occurring is considerably high.
   

Based on these observations, I have constructed this particular scenario. It is an illustrative representation of potential market behavior, grounded in established technical principles.

Wishing you all the best of luck🍀

• This is not a buy or sell recommendation.
  
• It is a personal perspective and should be used for reference only.
  
• All decisions and responsibilities lie with you.