BTC/USD ELLIOT-PROGNOSE - H4
The symmetrical triangle has resolved exemplarily, after an ABCDE triangle correction. Now a 5er impulse wave should take place again in the H4. The 1st impulse wave is now also since yesterday through, thus targets for top wave 3 and 4 can be found.
Since now also chart technical resistances are to be overcome again (52W High), my prognosis today is a mix of Elliot and general technical analysis.
Top Wave 3 (1.618 * Size Wave 1 + Low Wave 2) = approx. 14,648 USD/BTC
There are different methods for the calculation of the wave 5 - I suspect that it corresponds approximately to the size of wave 1 and NOT (size wave 1 * 3.236 + H/L wave 2), because just the market is somewhat uncertain - 52W high is still to be overcome.
Top Wave 5 (Size Wave 1 + Low Wave 4) = approx. 16,000 USD/BTC
Image 1 - H1:
After the breakout of the symmetrical triangle, a 5-pulse wave was generated (wave 1 in H4). Then an ABC correction followed by an ABCDE rising triangle consolidation. Now we are again in a 5er impulse wave (wave 3 in the H4), which probably has to fight again with the 52W high. The rest, ABC correction (wave 4 in H4) and 5 impulse (wave 5 in H4) will be analyzed in due time.
Image 2 - RSI - D1:
According to TA, everything is going very bullish right now. RSI has enough air upwards.
Image 3 - MACD - D1:
The MACD has higher highs, higher lows, as well as bullish cross.
Since now also chart technical resistances are to be overcome again (52W High), my prognosis today is a mix of Elliot and general technical analysis.
Top Wave 3 (1.618 * Size Wave 1 + Low Wave 2) = approx. 14,648 USD/BTC
There are different methods for the calculation of the wave 5 - I suspect that it corresponds approximately to the size of wave 1 and NOT (size wave 1 * 3.236 + H/L wave 2), because just the market is somewhat uncertain - 52W high is still to be overcome.
Top Wave 5 (Size Wave 1 + Low Wave 4) = approx. 16,000 USD/BTC
Image 1 - H1:
After the breakout of the symmetrical triangle, a 5-pulse wave was generated (wave 1 in H4). Then an ABC correction followed by an ABCDE rising triangle consolidation. Now we are again in a 5er impulse wave (wave 3 in the H4), which probably has to fight again with the 52W high. The rest, ABC correction (wave 4 in H4) and 5 impulse (wave 5 in H4) will be analyzed in due time.
Image 2 - RSI - D1:
According to TA, everything is going very bullish right now. RSI has enough air upwards.
Image 3 - MACD - D1:
The MACD has higher highs, higher lows, as well as bullish cross.
כתב ויתור
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