Are we getting close to our first real correction since the beginning of the pump of September?
As you can see in the graph, I decomposed the BTCUSD in elliott waves in 5 different timeframes. Here are the details of the decomposition:
The end of wave (v) in 1H (with a magnificent ending diagonal, which explains why wave (iv) overlapped with wave (i)) signs the end of the wave ⓹ in 4H , which means the wave 4 in daily should happen anytime soon.
I expect a retracement of 23.6% of wave 3, which is very usual in the case of the BTC, reaching the support at 34,000 USD.
As you can see in the graph, I decomposed the BTCUSD in elliott waves in 5 different timeframes. Here are the details of the decomposition:
- 1W: decomposition of 3rd wave monthly
- 1D: decomposition of 1st wave weekly
- 4H: decomposition of 3rd wave daily
- 1H: decomposition of 5th wave in 4H
The end of wave (v) in 1H (with a magnificent ending diagonal, which explains why wave (iv) overlapped with wave (i)) signs the end of the wave ⓹ in 4H , which means the wave 4 in daily should happen anytime soon.
I expect a retracement of 23.6% of wave 3, which is very usual in the case of the BTC, reaching the support at 34,000 USD.
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