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.
Not
Typo: 2.36 Fibonacci level.
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.
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.