Elliot wave perspective on BTC
Good afternoon all of my fellas, How are you doing? did you catch the last awesome bulls? I hope you are doing so. Let's get to the point of today's bitcoin analysis!
In this podcast, I will cover the daily movement, intra day and scalp opportunity on bitcoin. Based on this chart, I show you 2 support and upper line movement the green dotted one and the green line. The different between this 2 line is based on how I connect the price. the green line I use the wick to wick connecting method which doesn't exclude the bear trap and bull trap region. the green dotted line, I use the body to body connecting method which exclude the bull trap and bear trap region. Based on those 2 line, It is clear that bitcoin still has the room to grow to the upside of the upper line. And based on my opinion, it can be at the golden pocket region around $11100 region which in fact has a confluence with the upper line of the triangle.
And for smaller time frame view, I will give you an explanation on update section.
In this podcast, I will cover the daily movement, intra day and scalp opportunity on bitcoin. Based on this chart, I show you 2 support and upper line movement the green dotted one and the green line. The different between this 2 line is based on how I connect the price. the green line I use the wick to wick connecting method which doesn't exclude the bear trap and bull trap region. the green dotted line, I use the body to body connecting method which exclude the bull trap and bear trap region. Based on those 2 line, It is clear that bitcoin still has the room to grow to the upside of the upper line. And based on my opinion, it can be at the golden pocket region around $11100 region which in fact has a confluence with the upper line of the triangle.
And for smaller time frame view, I will give you an explanation on update section.
註釋
If you remember my last update about the possible leading first wave diagonal, you will realize that it had a good precision on bitcoin and I believe that the wave 3 has already finished and now the price is forming the 4th wave structure. My key levels to watch is at around the light blue region because it has the confluence factor between EMA 55 on 1 hour chart,previous resistance that is now become support and of course it is located between the 23.6 and 38.2 fib levels. I personally think that there would be a huge wick to occur at this are to confirm long position from here.
註釋
just forget to explain the RSI and MACD which already form a bearish divergence and the histogram is starting to lose momentum this is clearly the characteristic of wave 3 endThank you
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