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.
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Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.