Elliott Wave Count in Two Levels in Bitcoin to Dollars.
Hints:
1- Weekly time frame.
2- The start date of the wave count is from the 10th of December 2018.
3- The ascending trend line (blue line) is broken downwards by the candlestick that I have marked with a yellow arrow.
4- Is wave 5 complete?
According to the teachings of Bill Williams in Trading Chaos, I did the following to determine the purpose of the 5th wave:
I calculated the price difference between the beginning of wave 1 and the endpoint of wave 3 and then added 61.8 to 100% of this price gap to the end of wave 4 (61.8 and 100% Fibonacci levels). As you can see, Wave 5 is currently at the 62% level, and the Awesome Oscillator confirms this. However, the end of wave 5 can not be confirmed with certainty.
I do not think it is advisable to invest in a large amount at this stage in Bitcoin.
1- Weekly time frame.
2- The start date of the wave count is from the 10th of December 2018.
3- The ascending trend line (blue line) is broken downwards by the candlestick that I have marked with a yellow arrow.
4- Is wave 5 complete?
According to the teachings of Bill Williams in Trading Chaos, I did the following to determine the purpose of the 5th wave:
I calculated the price difference between the beginning of wave 1 and the endpoint of wave 3 and then added 61.8 to 100% of this price gap to the end of wave 4 (61.8 and 100% Fibonacci levels). As you can see, Wave 5 is currently at the 62% level, and the Awesome Oscillator confirms this. However, the end of wave 5 can not be confirmed with certainty.
I do not think it is advisable to invest in a large amount at this stage in Bitcoin.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.