Weekly chart:
The probability for my primary scenario increases:)
(Alt. 1:
We have already seen the lows and are now starting another bullish wave 3.)
Alt. 2 (which I find more likely):
Probability: 60%
--> we could see more lows. A correction in the range 16,400 - 26,245 is possible.
Be patient guys!
I know that some people don't listen to technical analysis . There are various reasons for this.
Unfortunately, people often do not understand the technical signals. But I would like to give you my technical signal again. Technical analysis & the elliott waves are often presented as useless. To understand my analysis, you basically have to understand the market. And if you understand the market you cannot avoid a technical analysis (as an active trader). The market moves in impulses. An impulse can be calculated mathematically because it is divided into fractals. Ralph nelso Elliott assumed that trends move in 5 waves. The waves 1, 3 and 5 are impulse waves. Waves 2 and 4 are corrective waves. After completing the 5 waves, Elliott assumed that a correction would follow.*
According to Nelson Elliott , the correction takes place in 3 steps. ABC correction. This is what we´re currently seeing. All these impulses are calculated in this analysis and indicate further lows. The btc failed again on the upper trend line . The chart would only show strength again from 42,300 onwards.
The technical signals are still clear:
What does that mean for you? Wait & be patient!
I see a shopping area in the yellow rectangle . There you can build up a position step by step.
For my followers to understand my analysis:
The topic is only described very roughly and is intended to give you a first overview of one of my analysis methods.
1. An impulse always moves in five sub-waves.
Waves 1, 3 and 5 of these are motive waves that move in the same direction as the overall trend.
Waves 2 and 4 are corrective waves, i.e. they correct the previous movement.
The following rules apply to an impulse:
-Wave 4 must not overlap with wave 1, except in a diagonal.
-Wave 3 is never the shortest wave.
-Wave 2 must not fall below the starting point of wave 1.
If one of these rules is broken, the chart analysis must be revised.
2. A correction wave moves in the opposite direction to the overall trend.
Corrective waves are three-part and basically consist of waves A, B and C.
Waves A and C are primarily impulse patterns of the corrective movement and drive the market in the opposite direction to the overall trend.
Wave B corrects the previous wave A and even has the potential to surpass the starting point of wave A.
3. The standard pattern consists of an impulse wave and a corrective wave.
These standard patterns repeat on a short-term basis as well as on a multi-year basis. In other words, every single wave consists of several sub-waves and in turn belongs to the larger picture. For example, wave 1 (an impulse) itself consists of five sub-waves.
This standard pattern continues and accordingly always merges into a higher level.
4. Relation Between Fibonacci and Elliott Wave Theory
Fibonacci Ratio is useful to measure the target of a wave’s move within an Elliott Wave structure. Different waves in an Elliott Wave structure relates to one another with Fibonacci Ratio. For example, in impulse wave:
Wave 2 is typically 38,2 %, 50% or 61.8% of wave 1
• Wave 3 is typically 161.8% of wave 1
• Wave 4 is typically 23.6%, or 38.2% of wave 3
• Wave 5 is typically inverse 1.236 – 1.618% of wave 4, equal to wave 1 or 61.8% of wave 1+3
You can use the information above to determine the point of entry and profit target when entering into a trade.
The probability for my primary scenario increases:)
(Alt. 1:
We have already seen the lows and are now starting another bullish wave 3.)
Alt. 2 (which I find more likely):
Probability: 60%
--> we could see more lows. A correction in the range 16,400 - 26,245 is possible.
Be patient guys!
I know that some people don't listen to technical analysis . There are various reasons for this.
Unfortunately, people often do not understand the technical signals. But I would like to give you my technical signal again. Technical analysis & the elliott waves are often presented as useless. To understand my analysis, you basically have to understand the market. And if you understand the market you cannot avoid a technical analysis (as an active trader). The market moves in impulses. An impulse can be calculated mathematically because it is divided into fractals. Ralph nelso Elliott assumed that trends move in 5 waves. The waves 1, 3 and 5 are impulse waves. Waves 2 and 4 are corrective waves. After completing the 5 waves, Elliott assumed that a correction would follow.*
According to Nelson Elliott , the correction takes place in 3 steps. ABC correction. This is what we´re currently seeing. All these impulses are calculated in this analysis and indicate further lows. The btc failed again on the upper trend line . The chart would only show strength again from 42,300 onwards.
The technical signals are still clear:
What does that mean for you? Wait & be patient!
I see a shopping area in the yellow rectangle . There you can build up a position step by step.
For my followers to understand my analysis:
The topic is only described very roughly and is intended to give you a first overview of one of my analysis methods.
1. An impulse always moves in five sub-waves.
Waves 1, 3 and 5 of these are motive waves that move in the same direction as the overall trend.
Waves 2 and 4 are corrective waves, i.e. they correct the previous movement.
The following rules apply to an impulse:
-Wave 4 must not overlap with wave 1, except in a diagonal.
-Wave 3 is never the shortest wave.
-Wave 2 must not fall below the starting point of wave 1.
If one of these rules is broken, the chart analysis must be revised.
2. A correction wave moves in the opposite direction to the overall trend.
Corrective waves are three-part and basically consist of waves A, B and C.
Waves A and C are primarily impulse patterns of the corrective movement and drive the market in the opposite direction to the overall trend.
Wave B corrects the previous wave A and even has the potential to surpass the starting point of wave A.
3. The standard pattern consists of an impulse wave and a corrective wave.
These standard patterns repeat on a short-term basis as well as on a multi-year basis. In other words, every single wave consists of several sub-waves and in turn belongs to the larger picture. For example, wave 1 (an impulse) itself consists of five sub-waves.
This standard pattern continues and accordingly always merges into a higher level.
4. Relation Between Fibonacci and Elliott Wave Theory
Fibonacci Ratio is useful to measure the target of a wave’s move within an Elliott Wave structure. Different waves in an Elliott Wave structure relates to one another with Fibonacci Ratio. For example, in impulse wave:
Wave 2 is typically 38,2 %, 50% or 61.8% of wave 1
• Wave 3 is typically 161.8% of wave 1
• Wave 4 is typically 23.6%, or 38.2% of wave 3
• Wave 5 is typically inverse 1.236 – 1.618% of wave 4, equal to wave 1 or 61.8% of wave 1+3
You can use the information above to determine the point of entry and profit target when entering into a trade.
