Detailed Elliott Count for BTC
Hi traders,
Here is a detailed elliott count I tracked for BTC . You may use this chart to serve as a confluence to your strategy.
Since the start of this year until the breakdown yesterday, an irregular flat correction has played out after an extended wave 1. As a rule of thumb for extended wave 1s, wave 2 must be the most time-consuming pattern out of all 5 waves. Wave 1 took 150 days, I assume wave 2 will play out longer.
Targets for an irregular expanded flat are 1.05% - 1.272% fib plotted on the chart, and 0.618% - 1.00% fib for the irregular running flat (which is very rare compared to expanded flats).
We will be able to identify wave 3 and wave 5 targets after we complete wave C of the wave 2 correction. We will probably go down to 24k to 17k if my targets for wave 2 are correct. 24k is near the 1W 200 MA, and 17.5k is near the 1W 300MA.
I have also plotted significant reversal times for each wave. May 25, 2022 seems to be the nearest golden ratio in fib time for us to start moving to wave C.
I hope this analysis serves you well in your trades. Good luck everyone!
Feel free to send me a message here for any questions.
Here is a detailed elliott count I tracked for BTC . You may use this chart to serve as a confluence to your strategy.
Since the start of this year until the breakdown yesterday, an irregular flat correction has played out after an extended wave 1. As a rule of thumb for extended wave 1s, wave 2 must be the most time-consuming pattern out of all 5 waves. Wave 1 took 150 days, I assume wave 2 will play out longer.
Targets for an irregular expanded flat are 1.05% - 1.272% fib plotted on the chart, and 0.618% - 1.00% fib for the irregular running flat (which is very rare compared to expanded flats).
We will be able to identify wave 3 and wave 5 targets after we complete wave C of the wave 2 correction. We will probably go down to 24k to 17k if my targets for wave 2 are correct. 24k is near the 1W 200 MA, and 17.5k is near the 1W 300MA.
I have also plotted significant reversal times for each wave. May 25, 2022 seems to be the nearest golden ratio in fib time for us to start moving to wave C.
I hope this analysis serves you well in your trades. Good luck everyone!
Feel free to send me a message here for any questions.
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.