Hey everyone,
sharing a daily Bitcoin update based strictly on Elliott Wave structure.
From the daily timeframe, the larger-degree bullish cycle that started after the 2022 low appears to have completed Wave I as a clean impulse. The internal wave relationships and proportions respect Elliott Wave rules and suggest trend maturity near the recent highs.
The current downside move is best interpreted as an impulsive decline, pointing toward the development of Wave A within a higher-degree corrective phase.
At this stage, Wave II is more likely to unfold as a zigzag correction, with potential retracement zones around the 38.2% – 50% – 61.8% Fibonacci levels.
A sharper correction remains an alternative scenario, but structurally, the zigzag setup fits better with current wave behavior.
This count remains valid as long as the marked invalidation levels hold and will be adjusted if the market proves otherwise.
sharing a daily Bitcoin update based strictly on Elliott Wave structure.
From the daily timeframe, the larger-degree bullish cycle that started after the 2022 low appears to have completed Wave I as a clean impulse. The internal wave relationships and proportions respect Elliott Wave rules and suggest trend maturity near the recent highs.
The current downside move is best interpreted as an impulsive decline, pointing toward the development of Wave A within a higher-degree corrective phase.
At this stage, Wave II is more likely to unfold as a zigzag correction, with potential retracement zones around the 38.2% – 50% – 61.8% Fibonacci levels.
A sharper correction remains an alternative scenario, but structurally, the zigzag setup fits better with current wave behavior.
This count remains valid as long as the marked invalidation levels hold and will be adjusted if the market proves otherwise.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.