Hi all, hopefully, this plays out but I think there is a clear Elliott Wave pattern forming here and we are just entering Wave 4 so a potential buy-in point for those who missed the last pump. There was a consolidating triangle pattern forming (marked in yellow) we broke out from that and have hit some resistance at $12800 but this could be forming a larger triangle pattern when a line is drawn between it and the previous high of $14000. We would need more confirmation that the pattern was accurate but if it is we could expect some more consolidation and a further breakout.
On the 1 hour chart we are seeing a bearish crossover of the MACD and Signal line but this ties in with the formation of Wave 4. If the Elliot Wave pattern is correct this would indicate a breakout to a retest of $14000.
Let me know what you guys think!
Thanks.
On the 1 hour chart we are seeing a bearish crossover of the MACD and Signal line but this ties in with the formation of Wave 4. If the Elliot Wave pattern is correct this would indicate a breakout to a retest of $14000.
Let me know what you guys think!
Thanks.
Nota
Looks like wave 3 has a bit more in it before completion. Consolidation completed very quickly and breakout higher has happened. If the wave pattern holds up $14000 will be the end point for wave 3 with pullback caused by the resistance. Wave 5 will then breach the $14000 resistance level.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.