Wolfe Pattern + AB=CD Reversal Zone

2023년 6월 29일

Taking note of a few items on the ETH/BTC chart.

After the SEC Binance and Coinbase legal complaint there has been a noticeable drop of in ETH/BTC's performance. This deviation from the trendline might mark a shift in the trajectory for eth for a while. OR, it was a fake-out, and can be seen as such.

On a higher timeframe the chart has been correcting. If elliott waves can be counted, perhaps this is near the end of a corrective wave 2.

There are noticeable pivots to identify a rather clean 0.618 AB = CD.

I've also indicated the path/plan for a wolfe pattern trade setup.

Worst case scenario might result in eth revisiting lows near 0.04 BTC, to complete a higher time frame Gartley pattern.

2023년 6월 29일

노트

Here's a chart to provide more context for my Elliott Wave view:

2023년 6월 29일

노트

With one exception, that I think the current wave 2 correction might be a WXYXZ.