Detailed Elliott Wave BTCUSD Analysis w/ Harmonics

2023년 4월 2일

This is a very confusing consolidation under resistance set in May 2022. The strength of this trend corresponds what is expected for the kick-off of an Elliott impulsive wave 3. Please see my overview analysis here:

At this point, this weekend, I think there are two possible paths to complete a W3.2 (sub wave 2 of a superior wave 3): red, or teal. I favor teal - staying within the larger channel. My bearish view will be invalidated if the price moves strongly above the reversal point of the AB=CD harmonic. This will be laughably obvious.

Do not trade this without stop losses. (That might sound silly to mention, but, the system I use for trading does not provide an easy method for establishing stop losses - basically impossible to use or trust they will be triggered.) This might be a good way to estimate an entry before the beginning of wave 3.3. Cypher patterns are rather nice to trade. I expect that BTC.D will start to drop, so entries into alt coins might make sense at this point.

Good luck. Resist FOMO.

2023년 4월 3일

노트

Ignore the cypher pattern reversal zone - that no longer applies.

2023년 4월 3일

노트

Looking at potential resistance zones defined by a gartley and an AB=CD.

2023년 4월 4일

노트

This is how I'm seeing the PA, now.