As You can see bitcoin is now in the 5th aka the last wave of 1 to 5 up trend. And it Also in the Rising Wedge Patter which usually a bearish pattern. As we all know the 3rd impulse wave of 1 to 5 Elliott waves cannot be the shortest one of these three impulse waves. wave number 1 is bigger than wave number 3. So the only way the rule can be applied is wave 5 becoming shorter than wave 3. so i measure wave 3 length and put a curve around wave 5.
So bitcoin must begin ABC three wave correction before it reach the outline of the curve. and the correction should be the biggest ABC pattern correction we have ever seen in Bitcoin so far ( By numbers of course not percentage )
I am very new to technical analysis and this is my 3rd idea. thank you all for reading.
<< None of these are Financial advises - Do Your own Research before doing something >>
- idk why i put that but i have seen a lot of youtubers put that part for their defence.
- English is not my mother language and please ignore the mistakes lol
So bitcoin must begin ABC three wave correction before it reach the outline of the curve. and the correction should be the biggest ABC pattern correction we have ever seen in Bitcoin so far ( By numbers of course not percentage )
I am very new to technical analysis and this is my 3rd idea. thank you all for reading.
<< None of these are Financial advises - Do Your own Research before doing something >>
- idk why i put that but i have seen a lot of youtubers put that part for their defence.
- English is not my mother language and please ignore the mistakes lol