1-2 setup
In the 1-hr chart, using a semi-log scale, bitcoin has completed or about to an impulsive 5 wave count. I will label this as wave 1. It can be seen that this sub-wave 3 of wave 1 demonstrates the strong acceleration relative to sub-wave 1 and 5. It clearly shows a third wave extension of third wave extension in this instance.
One can draw a trend line connecting sub-wave 2 and 4 and draw a parallel line connecting sub-wave 1. This parallel line will cut across sub-wave 3 and then target sub-wave 5. And based on the chart, we have reached the target of sub-wave 5.
From a Elliott wave perspective, sub-wave 3 is 2.618 times of sub-wave 1 and sub-wave 5 is about 1x of sub-wave 1.
A confluence of factors show that we have reached the end of wave 1. A retracement of a corrective wave (abc) to the price of 60-61K USD will be a good price to buy in.
One can draw a trend line connecting sub-wave 2 and 4 and draw a parallel line connecting sub-wave 1. This parallel line will cut across sub-wave 3 and then target sub-wave 5. And based on the chart, we have reached the target of sub-wave 5.
From a Elliott wave perspective, sub-wave 3 is 2.618 times of sub-wave 1 and sub-wave 5 is about 1x of sub-wave 1.
A confluence of factors show that we have reached the end of wave 1. A retracement of a corrective wave (abc) to the price of 60-61K USD will be a good price to buy in.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.