In the weekly timeframe, BTCUSD exhibits a bullish trend, although it's currently undergoing an Elliott correction wave (ABC), typically retracing between 50% to 61% of the previous move. Waiting for confirmation through bullish price action within this correction zone can provide a strategic entry point for buying opportunities, aligning with the overall upward momentum. This approach combines Elliott Wave Theory with price action analysis to enhance trading decisions.
In the weekly timeframe, BTCUSD exhibits a bullish trend, although it's currently undergoing an Elliott correction wave (ABC), typically retracing between 50% to 61% of the previous move. Waiting for confirmation through bullish price action within this correction zone can provide a strategic entry point for buying opportunities, aligning with the overall upward momentum. This approach combines Elliott Wave Theory with price action analysis to enhance trading decisions.