BTCUSD Corrective Wave
I don't know much about Elliot Wave theory, but all I know is that it consists of 5 waves for the dominant trend, followed by 3 corrective waves. I placed waves 1, 3, and 5 on the FUD spikes earlier on this year, followed by a sharp corrective wave caused by the positive SEC meeting on crypto currency. Since then, sentiments seem bullish and the Daily MACD crossover seems to confirm it.
I also checked the BTCUSD longs vs the shorts, and it seems like a good bullish 3:1 ratio. I don't know much about the measurements of the corrective wave, but I'm sticking with a simple inverted head and shoulders pattern as a guide for it. Hopefully, the pattern will push through.
Disclaimer: I am not an expert on Elliot Wave Theory, but if someone with experience could comment on it, I would really appreciate it.
I also checked the BTCUSD longs vs the shorts, and it seems like a good bullish 3:1 ratio. I don't know much about the measurements of the corrective wave, but I'm sticking with a simple inverted head and shoulders pattern as a guide for it. Hopefully, the pattern will push through.
Disclaimer: I am not an expert on Elliot Wave Theory, but if someone with experience could comment on it, I would really appreciate it.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.