Elliott Wave Annalysis for BTC

Mar 18, 2023

This is my updated Elliott Wave analysis for BTC. The text box is telling that SVB bank and current CPI are all good news that makes the market buy the believe that FED will stop the interest rate and the timing are very well controlled. The news is released to the public just right at the end of wave 2 of a smaller Elliott Wave which fits perfectly to the theory of wave 1-2. The volume also supports this idea as well so we will look for some confirmation in a smaller timeframe to long. However because this is a wave 5, an extra caution has to be taken and at least 50% of any position will be closed in the ATH before any further consideration.