Bitcoin wave count update
Actualizado
As i mentioned before it wasn't a triangle, at least in elliott wave perspective wasn't. So with this move a lot of things confirmed, i admit i didn't trade this move but it is more obvious to me right now that we are in a WXY or WXYXZ correction. We have a beautiful flat for wave W and not so beautiful zig-zag for wave X and now a zig-zag as wave Y.
In sub wave count of wave Y we have a ABC zig-zag correction. I putted a fib extension tool from the beginning of wave A till the end of it then i started it from the highest point of wave B. In the 7900 price wave C equaled wave A and it is more likely for the price to reverse from there.
There is two possible scenarios :
1_ Bitcoin completed the correction and it will start bigger wave 3 from here.
2_ Bitcoin will start a new wave X and the the final leg to downside as wave Z.
In sub wave count of wave Y we have a ABC zig-zag correction. I putted a fib extension tool from the beginning of wave A till the end of it then i started it from the highest point of wave B. In the 7900 price wave C equaled wave A and it is more likely for the price to reverse from there.
There is two possible scenarios :
1_ Bitcoin completed the correction and it will start bigger wave 3 from here.
2_ Bitcoin will start a new wave X and the the final leg to downside as wave Z.
Nota
Nota
Nota
MACD is about to give us a buy signal. wave count supports this idea. weekly EMA ribbon confirms that. and bitmex overal bias is bearish.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.