Elliott Wave Analysis: BTC/USD Trading In A Temporary Pullback

Published 02/27/2018, 10:33 AM
Updated 07/09/2023, 06:31 AM

BTC/USD can be making an expanded flat correction within minor blue wave b, with legs (a) and (b) already completed. Ideally, some resistance will be seen for leg (c) of b near the 11000/11200 area, where the Fibonacci ratio of 61.8 can react as a turning point lower. Once blue wave b fully unfolds, BTC/USD can drop towards the 8650/8000 zone for final blue wave c as part of a bigger wave 2/B correction, and there turn higher.

BTC/USD, 2H
BTC/USD 120 Hour Chart

Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All our work is for educational purposes only.

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