$BTCUSD Elliott Wave Technical Analysis
Updated
BTCUSD in a parabolic move
Where are we to look for a possible level for a short**
2227 is my level to look for a possible top for wave 3 in the wave up from wave minor 4.
It's too early to say where this parabolic move will end, but parabolic moves normally end with a sudden burst of the bubble.
One of the few Elliott Wave rules says: The 3rd wave can't be the shortest. That's the reason why I have the alt1 and 2 set in. The 3rd wave is already longer than wave 1 therefore there is no limit for the 5th wave up and therefor the parabolic move could still extend and go much further up and make a blowoff top. But for the time being I look for 2227.
I will track BTCUSD 10.18% ongoing. Stay tuned.
Best to your trading
WALLSTScalper.com
René
Where are we to look for a possible level for a short**
2227 is my level to look for a possible top for wave 3 in the wave up from wave minor 4.
It's too early to say where this parabolic move will end, but parabolic moves normally end with a sudden burst of the bubble.
One of the few Elliott Wave rules says: The 3rd wave can't be the shortest. That's the reason why I have the alt1 and 2 set in. The 3rd wave is already longer than wave 1 therefore there is no limit for the 5th wave up and therefor the parabolic move could still extend and go much further up and make a blowoff top. But for the time being I look for 2227.
I will track BTCUSD 10.18% ongoing. Stay tuned.
Best to your trading
WALLSTScalper.com
René
Note
The research for this analysis started back when BTC was 170 dollar lower. But suddenly I was in a hurry posting it - cause 2227 was coming up fast. That resulted in minuette wave 1 and 2 being left wrongly on the chart - I post here the correct and updated chart with corrct count: Note
Continues to build on the 4th wave. On track!Note
New all time high. Caution here could end up being a truncated 5th wave... Nevertheless the pair in consolidation... No massive short yet... Have to take out supporting trend line.Note
A leading diagonal is emerging. Ending the parabolic move up? This could also just be the 1st wave in 5th wave. Divergens is building on a 60 min chart
Stay tuned
Note
An alternate count - Could break the support line before making the th wave - quite possible - time wil show: Note
Look more and more like the leading diagonal... here latest update: gyazo.com/bd331f007d43ce1e22aae1fe10049676Note
Trade closed: target reached
Top is inOrder cancelled
Bitcoin can't be shorted but can be transfer to other assets groups.Note
The chart: 
Website:
Instagram: instagram.com/CoinedByCrypto
Twitter: twitter.com/CoinedByCrypto
Instagram: instagram.com/CoinedByCrypto
Twitter: twitter.com/CoinedByCrypto
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.