Dear HodlCrypots,
The following has to be considered making a trade in the current price level of 6515 usd for bitcoin 0.18% .
There are 3 channels and in 2 of those channels the 4 tends to break out of the channel and soon after that the 5 ticks inside the channel.
The (III) therefore hasnt completed yet. It will complete somewhere near the 5200 usd (that's 1315 usd down...).
When the (III) completes the (IV) will break out of the channel again but will not surpass the blue trend line .
After that the (real?) bottom will be found at the (V).
Everything you need to know is in the chart.
It's a combination of graph channels, elliot wave and fib relations.
ps: this is just an idea, an analysis, not a trade advice.
The following has to be considered making a trade in the current price level of 6515 usd for bitcoin 0.18% .
There are 3 channels and in 2 of those channels the 4 tends to break out of the channel and soon after that the 5 ticks inside the channel.
The (III) therefore hasnt completed yet. It will complete somewhere near the 5200 usd (that's 1315 usd down...).
When the (III) completes the (IV) will break out of the channel again but will not surpass the blue trend line .
After that the (real?) bottom will be found at the (V).
Everything you need to know is in the chart.
It's a combination of graph channels, elliot wave and fib relations.
ps: this is just an idea, an analysis, not a trade advice.