Hi We are in second correction wave in BTCUSD, the irregular flat correction is seen in this chart. We are in c wave of ABC correction. The goal of correction wave can be 22000-22500. Thanks for your attention Yours
A very high-quality analysis of the asset. I think that the immediate price reaction will help make sure of the further direction of movement. Buddy, I wonder what indicators you use in your analysis?
it is a high potential scenario thanks for sharing
GDuBFX
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This is not taking in to account the rules of elliot waves... "Wave 4 should NEVER end below the the end of wave 1".
Your wave 4 goes beyond the end of wave 1, so I reccommend you re analyse.
GDuBFX
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StaroftheElliot
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@GDuBFX thank you for your commment, Leading diagonal is usually characterized by overlapping wave 1 and 4 and also by the wedge shape but overlap between wave 1 and 4 is not a condition, it may or may not happe
GDuBFX
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@StaroftheElliot, that's not a rising wedge shape you have drew on your chart, nor is there a wedge shape where you have your waves 1-5.
When you have to "make it fit" by crossing your trendline through the candlesticks, then it's invalid in my opinion.
This is more of a wyckoff accumulation period where market movers are accumulating smaller positions so that it doesn't impact prices much.
If you don't know what a wyckoff accumulation schematic is, go search for it on Google and you will see something similar to what I've got marked on my chart below: