Detailed Elliott Wave BTCUSD Analysis w/ Harmonics
This is a very confusing consolidation under resistance set in May 2022. The strength of this trend corresponds what is expected for the kick-off of an Elliott impulsive wave 3. Please see my overview analysis here:
At this point, this weekend, I think there are two possible paths to complete a W3.2 (sub wave 2 of a superior wave 3): red, or teal. I favor teal - staying within the larger channel. My bearish view will be invalidated if the price moves strongly above the reversal point of the AB=CD harmonic. This will be laughably obvious.
Do not trade this without stop losses. (That might sound silly to mention, but, the system I use for trading does not provide an easy method for establishing stop losses - basically impossible to use or trust they will be triggered.) This might be a good way to estimate an entry before the beginning of wave 3.3. Cypher patterns are rather nice to trade. I expect that BTC.D will start to drop, so entries into alt coins might make sense at this point.
Good luck. Resist FOMO.
At this point, this weekend, I think there are two possible paths to complete a W3.2 (sub wave 2 of a superior wave 3): red, or teal. I favor teal - staying within the larger channel. My bearish view will be invalidated if the price moves strongly above the reversal point of the AB=CD harmonic. This will be laughably obvious.
Do not trade this without stop losses. (That might sound silly to mention, but, the system I use for trading does not provide an easy method for establishing stop losses - basically impossible to use or trust they will be triggered.) This might be a good way to estimate an entry before the beginning of wave 3.3. Cypher patterns are rather nice to trade. I expect that BTC.D will start to drop, so entries into alt coins might make sense at this point.
Good luck. Resist FOMO.
Kommentera:
Ignore the cypher pattern reversal zone - that no longer applies.
Kommentera:
Looking at potential resistance zones defined by a gartley and an AB=CD.
Looking at potential resistance zones defined by a gartley and an AB=CD.
Kommentera:
This is how I'm seeing the PA, now.
This is how I'm seeing the PA, now.