Bitcoin analysis (BTC / USD : Bitstamp) with Elliott Wave

2020年4月30日

1. Long Term

In a long period view, Wave 1 and 2 has ended at $13,880 and $3,850.
Wave 3 is in process now.
There are many views that bitcoin will goes down to 2K,
but I think it won't be happened.



2. Mid Term

After 9th, March, Wave 1 is in process.
Wave 3 was ended yesterday, and we are in Wave 4, corrective wave.
I expect the whole shape of Big Wave 1 will be a leading diagonal.



3. Short Term

This is how I counted the Wave 3-3, which ended yesterday.
Wave 5 was extended.
And Wave 4 is in process.



4. Expectation

We can forecast where bitcoin retracement stop at by Fibonacci retracement level.
The red horizontal lines are showing Fibonacci levels.
If bitcoin will fall down to 0.236 level : about $8,670
0.382 level : about $8,200
At this time, only proper thing that we can do is wait until the wave 4 ends.
Then, we can find a good buy position.
Should check these :
①. the shape of wave 4 : zigzag, flats, triangle etc..
②. Fibonacci level

※ Caution
If bitcoin falls down under 7,500 (purple line), this analysis won't be valid anymore.

2020年4月30日

註釋

Entry points
1. 8451
2. 8343
3. 7973 - I am wating
Stop Loss : about $80...?