BTC in bullish mode, as I told earlier the descending parallel is broken en swapped for the ascending (purple) parallel...
I left some overhead resistances out, as it may look too busy, but there are idd. some obstacles to overcome...
Waves are shortening, but the path remains the same... the ascending parallel is for me the most convenient way to draw the Elliott waves.
It is very difficult right now to determine whether this is a first, thirth or subwave etc. there are different approaches, until we see the end of the upwards movement, we can go back in time to mark the waves and settle it correctly... nevertheless we should go all the way back in time to really define the right path... and I even don't have that info... 2009, right, when Bitcoin was born...
I left some overhead resistances out, as it may look too busy, but there are idd. some obstacles to overcome...
Waves are shortening, but the path remains the same... the ascending parallel is for me the most convenient way to draw the Elliott waves.
It is very difficult right now to determine whether this is a first, thirth or subwave etc. there are different approaches, until we see the end of the upwards movement, we can go back in time to mark the waves and settle it correctly... nevertheless we should go all the way back in time to really define the right path... and I even don't have that info... 2009, right, when Bitcoin was born...
Note
officially... we could call it... a failed break-out... :-{
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.