Veejahbee

Bitcoin Bullish Reversal Underway

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
Hi Traders,
Bitcoin decline from $64854 high unfolded as a classic Elliott Wave impulse pattern, labeled (i)-(ii)-(iii)-(iv)-(v).

Wave (iii) is the longest of the three impulse waves, wave (ii) is a sharp zigzag correction, and wave (iv) is a sideways double-three correction.

According to Elliott Wave theory, a three-wave correction in the opposite direction follows every impulse pattern. That's exactly what I'm expecting from this current level considering that wave (v) is already completed.

The most conservative way to know that wave (v) is completed is to see the breach of the green level on the chart.

This is not the best time to short BTC as the market structure is favoring the bulls!

Haftungsausschluss

Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.