SukRyu-Chart

Bitcoin analysis (XBT / USD : Bitmex) with Elliott Wave

Short
BITMEX:XBTUSD.P   Bitcoin
1. Long term
Not changed.



2. Mid-term
Not changed.
Wave 3 target price has been little incresed.
$ 10,150 to $10,400



3. Short term
This is how I count Wave 3.

And this is how I count Wave 5 of wave 3.
The whole price would be ended at near $ 10,400.
Many wave end pricese are overlaped at there.

Now, wave 4 corrective wave is on process,
it will be stopped at $ 9,550 ~ $ 9,650, I guess.
If the price falls down under $ 9,120,
then we can not expect more price rise.



4. Expectations
I
think Wave 3 is going to its end.
So at this moment, Long position may causese big losses.
If you have no positions, the best response is wait until good entry price of short position.

Plus, $ 10,400 have two meaning.
One is the end price of Wave 3, and other is end price of Zigzag.
Be careful!

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.