Automated E-Wave Analysis Appears Quite Bearish
But, take with a grain of salt.
E-Wave Analysis Automatically performed by software called MotiveWave, then transposed to TradingView.
I don't trade any crypto at all, so have no interest in creating "FUD". But I did want to just share this, and see how accurate it ends up being.
Between the (0) and (1) (usually these are labeled with roman numerals btw) is the i ii iii iv and v of the impulse, followed by an a b c correction. The "c" of the correction is the same as the (2) and from there the software predicts another downward-moving impulse wave. Again, please take with a grain of salt. Many out there even say e-wave analysis isn't very useful. The same software shows a bullish result for DOGEUSD which is kind of funny unless the two could actually become quite independent. For educational purposes only. Thanks for checking it out.
E-Wave Analysis Automatically performed by software called MotiveWave, then transposed to TradingView.
I don't trade any crypto at all, so have no interest in creating "FUD". But I did want to just share this, and see how accurate it ends up being.
Between the (0) and (1) (usually these are labeled with roman numerals btw) is the i ii iii iv and v of the impulse, followed by an a b c correction. The "c" of the correction is the same as the (2) and from there the software predicts another downward-moving impulse wave. Again, please take with a grain of salt. Many out there even say e-wave analysis isn't very useful. The same software shows a bullish result for DOGEUSD which is kind of funny unless the two could actually become quite independent. For educational purposes only. Thanks for checking it out.
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Also, the end date of this analysis is June 11th 2021 at about 3:30 AM EDT (GMT -4)
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One last thing: if a 1 hour chart is used instead, the (2) portion of the ABC correction brings BTCUSD up to about 48-49 thousand, then down to 18.8k around June 5th.