Hello, everyone!
My last forecast on Bitcoin has been perfectly completed. I don’t want to be too self confident but it looks like I have now better understanding of the Trading Chaos by Bill Williams. It is the best motivation for me to continue studying and practicing this approach and I hope my articles are useful for you. What is next?
Let’s take a look at 1h time frame of the BTCUSDT chart of the WhiteBit exchange. Wave 5 reached the minimal target at $17400 where I have successfully executed short trade. I decided that wave 5 have been ended because of the divergence with the Awesome oscillator. Moreover the wave 4 minimal condition have been met – the zero line crossover on the AO. I wanna tell you that you should confirm Elliott waves with the AO, because without it there is the high probability of misunderstanding the waves counting.
The previous Elliott waves cycle have completed the corrective wave C and now I consider the new bearish wave 5 have been started. Watch out my analysis updates because the market is alive and we have to change our decisions when market shows us the new information.
Best regards, Ivan
My last forecast on Bitcoin has been perfectly completed. I don’t want to be too self confident but it looks like I have now better understanding of the Trading Chaos by Bill Williams. It is the best motivation for me to continue studying and practicing this approach and I hope my articles are useful for you. What is next?
Let’s take a look at 1h time frame of the BTCUSDT chart of the WhiteBit exchange. Wave 5 reached the minimal target at $17400 where I have successfully executed short trade. I decided that wave 5 have been ended because of the divergence with the Awesome oscillator. Moreover the wave 4 minimal condition have been met – the zero line crossover on the AO. I wanna tell you that you should confirm Elliott waves with the AO, because without it there is the high probability of misunderstanding the waves counting.
The previous Elliott waves cycle have completed the corrective wave C and now I consider the new bearish wave 5 have been started. Watch out my analysis updates because the market is alive and we have to change our decisions when market shows us the new information.
Best regards, Ivan
Note
You can also read my previous analysis to understand how I defined the reversal point:
Trade active
Bitcoin is showing us the predicted dump. The next stop in my opinion will be at the $16200. There we will see.
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Claim up to 600 USDT in welcome rewards & compete for a share of 5,000 USDT in BitMart Futures Contest!
➡ Register & Claim Bonus: bitmart.com/invite/VShg8M
➡ Join Contest: bitmart.com/futures-competition/Skyrexio/en-US
➡ Register & Claim Bonus: bitmart.com/invite/VShg8M
➡ Join Contest: bitmart.com/futures-competition/Skyrexio/en-US
Related publications
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.