Bitcoin – is the correction over?
Atualizado
Hello, everyone!
When we are waiting the next BTC pump? To answer this question let’s take a look at the Elliott Waves structure on the price chart.
I am sure that Wave 3 have been already ended, because the fractal, squad bar, maximum value at Awesome Oscillator and target zone for Wave 3 was reached. Now the price is forming the Wave 4. It looks like that the Wave 4 is the triangle correction, which did not reach the Wave 4 target zone. It is absolutely normal for the Wave 4, thus I am sure that significantly lower the price is not going to drop.
I expect the sideways movement in the Wave 4 some more time. The obligatory condition of Wave 4 end is the Awesome Oscillator and zero line crossover. After that the Wave 5 is going to begin. It’s minimal target is calculated as the 61% of the price difference between Wave 1 start and Wave 3 end, measured from the lower price of Wave 4. Now this target is $81500. I will do the update when the analysis changes.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
When we are waiting the next BTC pump? To answer this question let’s take a look at the Elliott Waves structure on the price chart.
I am sure that Wave 3 have been already ended, because the fractal, squad bar, maximum value at Awesome Oscillator and target zone for Wave 3 was reached. Now the price is forming the Wave 4. It looks like that the Wave 4 is the triangle correction, which did not reach the Wave 4 target zone. It is absolutely normal for the Wave 4, thus I am sure that significantly lower the price is not going to drop.
I expect the sideways movement in the Wave 4 some more time. The obligatory condition of Wave 4 end is the Awesome Oscillator and zero line crossover. After that the Wave 5 is going to begin. It’s minimal target is calculated as the 61% of the price difference between Wave 1 start and Wave 3 end, measured from the lower price of Wave 4. Now this target is $81500. I will do the update when the analysis changes.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Nota
Do not panic if you will see the dump!Yesterday I posted the Bitcoin price analysis. I told you that the we will probably see the Wave 5 to the $80000, but the Wave 4 (correction) still is not over. The BTC showed the impulsive move to the upside, but this is still can be the part of Wave 4.
I supposed that the Wave 4 is going to be the A-B-C-D-E triangle correction, but today I looked carefully at the subwaves structure, and it looks like the flat or incorrect A-B-C correction. The current impulse can be just the Wave B. In this case I anticipate the Wave C to the $59-60k and the pump after that, but I am not going to close my positions now because I believe in the Wave 5.
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