Hi,
Let me share what is in my mind and appreciate to get your feedback.
I rather to analyze charts in upper time frames.
As you see in weekly chart, Elliot waves are very clear and visible. I believe the first wave ended and we are in the second wave (correction).
the question is: "Where should be B point?"
I tried several Fibo on chart and found 0.193$ for B. The chart touched 0.194 few days ago.
The volume is increased these days and it is a good sign for a reversal move.
If we accept the "B" point should be lower than 0.193 then it should drop to the next PRZ and loose another 0.85% of the current value. It happens if Bitcoin drops lower than 10000$ and I believe it's impossible.
Now imagine that you accepted the current price as bottom of the second Elliot wave. This means B (current value) is the start line of Elliot's 3th wave.
the first wave made a 204000% profit and not the 3th will make even bigger!!!
BUT please note I'm talking in weekly and monthly time frame and this means even couple of years need to reach the top.
I always love to image ultimate and unlimited so DO NOT trade on my idea before make it yours!!!
Please check my analyze on Bitcoin I published October 2021.
Be Happy all the time!
Bitcoin Analyze October 2021
Let me share what is in my mind and appreciate to get your feedback.
I rather to analyze charts in upper time frames.
As you see in weekly chart, Elliot waves are very clear and visible. I believe the first wave ended and we are in the second wave (correction).
the question is: "Where should be B point?"
I tried several Fibo on chart and found 0.193$ for B. The chart touched 0.194 few days ago.
The volume is increased these days and it is a good sign for a reversal move.
If we accept the "B" point should be lower than 0.193 then it should drop to the next PRZ and loose another 0.85% of the current value. It happens if Bitcoin drops lower than 10000$ and I believe it's impossible.
Now imagine that you accepted the current price as bottom of the second Elliot wave. This means B (current value) is the start line of Elliot's 3th wave.
the first wave made a 204000% profit and not the 3th will make even bigger!!!
BUT please note I'm talking in weekly and monthly time frame and this means even couple of years need to reach the top.
I always love to image ultimate and unlimited so DO NOT trade on my idea before make it yours!!!
Please check my analyze on Bitcoin I published October 2021.
Be Happy all the time!
Bitcoin Analyze October 2021
Komentarz:
Sorry for busy chart... I noticed after publishing!!!