Wave 4
Wave 3
Explanation of extensions/target/invalidation level:
-Wave 5 (blue) of wave 1 (red) 1:1 extension is a measurement of 0-3 added to 4
-All wave 3 extensions are from 0-1 added to 2
-Wave 5 (blue) of wave 3 (red) is a 0.618 extension of 2-3 added to 4
-Target ranges from 0.618 extensions of wave 2-3 added to the current low of wave 4 (red) which is a lowball target. The top of the range is a full 1:1 extension of wave 0-3 (red) added to the same low point.
-Stop loss/invalidation level is the level below A in the ABCDE pattern. This can be moved to be below C if you want a tighter stop loss.
Instead of what I had been expecting from my previous analysis which would've been a very deep, further correction for Bitcoin there has been consistent support and consolidation for weeks now. I decided to take another perspective on the wave count in a longer time frame. I do not consider this drawing invalidated in any sense until price action moves below the A. (pictured above). I will keep this idea updated with new invalidations as well as a time estimate for when we could see it start to hit my target zone (possible once ABCDE is completed)
Wave 3
Explanation of extensions/target/invalidation level:
-Wave 5 (blue) of wave 1 (red) 1:1 extension is a measurement of 0-3 added to 4
-All wave 3 extensions are from 0-1 added to 2
-Wave 5 (blue) of wave 3 (red) is a 0.618 extension of 2-3 added to 4
-Target ranges from 0.618 extensions of wave 2-3 added to the current low of wave 4 (red) which is a lowball target. The top of the range is a full 1:1 extension of wave 0-3 (red) added to the same low point.
-Stop loss/invalidation level is the level below A in the ABCDE pattern. This can be moved to be below C if you want a tighter stop loss.
Instead of what I had been expecting from my previous analysis which would've been a very deep, further correction for Bitcoin there has been consistent support and consolidation for weeks now. I decided to take another perspective on the wave count in a longer time frame. I do not consider this drawing invalidated in any sense until price action moves below the A. (pictured above). I will keep this idea updated with new invalidations as well as a time estimate for when we could see it start to hit my target zone (possible once ABCDE is completed)
Nota
Updated, wave 4 is looking like a complex WXYXZ correction. No bullish divergence on the ABC corrections
Nota
End is near
Nota
veryyy nice entry point
Penerbitan berkaitan
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.
Penerbitan berkaitan
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.