Disclaimer: my publications are personal journals for self-education and development, they are not financial advice.
So the Elliot Wave momentum continued to the 3rd point (although on the exact line I originally plotted ;), nonetheless, we saw a brief travel along the support line, followed by a bounce to the resistance line at point 4. During the momentum between point 2-3 we can see the following:
- An increase in volume
- Consistent ascension of the StochRSI
- Higher highs on the RSI
A minor breakout can be seen once the resistance line was achieved. Based on Bitcoin and cryptocurrency sentiment at the moment, I predict a return to and break of the support line to form a lower low.
Update: while I was typing this, we can see the minor breakout reached the 0.26 Fibonacci level from the support at point 3 before commencing a reversal.
So the Elliot Wave momentum continued to the 3rd point (although on the exact line I originally plotted ;), nonetheless, we saw a brief travel along the support line, followed by a bounce to the resistance line at point 4. During the momentum between point 2-3 we can see the following:
- An increase in volume
- Consistent ascension of the StochRSI
- Higher highs on the RSI
A minor breakout can be seen once the resistance line was achieved. Based on Bitcoin and cryptocurrency sentiment at the moment, I predict a return to and break of the support line to form a lower low.
Update: while I was typing this, we can see the minor breakout reached the 0.26 Fibonacci level from the support at point 3 before commencing a reversal.
Nota
Typo: 2.36 Fibonacci 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.