LONG Bitcoin - MORE FOMO? The Case for More Bull - BTCUSD 1 Hour
Updated
A completed 5th Elliot impulse wave followed by a corrective ABC pattern might have Bitcoin on another bullish path...
- Cup and Handle Formation
- Wave 1 with wave 2 completing on the 38.2% retracement
- Height of this potential Cup and Handle execution would coincide with a fully completed 1-2-3-4-5 impulse wave
- Stop would be placed just beneath handle
* 1 Hour Chart Play
- Cup and Handle Formation
- Wave 1 with wave 2 completing on the 38.2% retracement
- Height of this potential Cup and Handle execution would coincide with a fully completed 1-2-3-4-5 impulse wave
- Stop would be placed just beneath handle
* 1 Hour Chart Play
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Apologies for the edits***Note
Better on the eyes...Note
Waves 4 and 5 next?Note
Bitcoin is... angry......
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*Meant to place here in updates not comments section*May have been best to have a slightly lower TP zone(such as the blue box) Wave 5 does not always surpass 3. Wave 3 extended to the 1.272. Will we see a retest of support turned resistance (see red "dots" and line) at the .382 retracement which correlates with this line?
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Trade would best be closed - Target was $11300Price MAY have topped at $11200 in the near term
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Looks like a nice flag is developing for the 5th wave.Note
Target Hit.
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