BTCUSD 4h chart: Elliott Wave analysis - long
Elliott Wave analysis applied on the 4 hour BTCUSD chart (kraken).
The ABC wave is a ZIGZAG:
- wave A contains 5 waves up
- wave B contains wxy waves correction, which should be completed (wave y is now 100% of wave w). Also, B is now at 85.4% of wave A. If descending any further, the whole ZIGZAG wave is no longer applicable.
- thus, wave C is now expected to start (or has begun already) with a 5 waves up to the targets: 8145 USD (100% of wave a) or 8463 USD (123.6% of wave a).
Pitchfork analysis:
coordinates:
1: price 10580.5, bar 247
2: price 6525.0, bar 277
3: price 7867.5, bar 281
analysis:
- wave w did not touch the median line of the pitchfork
- the price in wave y is hovering at the edge of the pitchfork
Both indicate a move up, out of the pitchfork.
The ABC wave is a ZIGZAG:
- wave A contains 5 waves up
- wave B contains wxy waves correction, which should be completed (wave y is now 100% of wave w). Also, B is now at 85.4% of wave A. If descending any further, the whole ZIGZAG wave is no longer applicable.
- thus, wave C is now expected to start (or has begun already) with a 5 waves up to the targets: 8145 USD (100% of wave a) or 8463 USD (123.6% of wave a).
Pitchfork analysis:
coordinates:
1: price 10580.5, bar 247
2: price 6525.0, bar 277
3: price 7867.5, bar 281
analysis:
- wave w did not touch the median line of the pitchfork
- the price in wave y is hovering at the edge of the pitchfork
Both indicate a move up, out of the pitchfork.
İlgili yayınlar
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.