BitcoinPembelian
BTC forms sub-wave a of C non-standard in [Day timeframe cycle]
Where are we?
Bitcoin is the most popular coin at this moment, last time I heard about bitcoin around in Mar the price was around 7000$ but unbelievable 9 months passed, it rallies up to 30000$. This phenomenon indicates that we are in a powerful impulse wave of a supercycle. We can not count wave three as an impulse wave because wave 2 does not comply with the rule of degree [ next wave must always retrace at least 1/3 of a former wave - it means wave 2 must retrace at least 1/3 of wave 1 Ex. In this chart wave, 1 should be at 12529.05 level so 1/3 of 12529.05 = 3758.71 so the level of wave 2 must be lower than or equal to 12520.05 - 3758.71 = 8770.34 but the price is not reached. That's why I label wave in the non-standard small x wave term or WXY. First, "W" we got zigzag which wave a has 5 sub-waves: wave b has 3 sub-waves and it's strong bc failure flat: wave c has 5 waves and it should move very strong upward. The book "Mastering Elliott wave by Glenn Neely" states that wave c of the elongated zigzag must retrace more than 161.8% a which is around 35000$.
Ans: We are in the [wave a of wave (c) or x3 of wave C of wave x3 of wave 3 supercycle]
Then we zoom in on wave c we will notice that wave c also forms zigzag upward, I label waves with the red color this one we can't guarantee that uptrend is impulse standard or non-standard. So I label 1 or (A) and 2 or (B). It is very strong to make elongated zigzag in elongated zigzag. You can notice that wave 2 or (B) is in the form of strong b-c failure like the bigger cycle. By the way, the corrective process is already finished. We are currently in wave (C) I further label sub-waves of wave (C) as a non-standard small x wave because it moves in the trendline channel, I can count it more than 5 sub-waves, and also it breaks the essential construction rule So after the x wave corrects the previous zigzag. It's now ready to form the next upside wave, mostly it will form another zigzag to make a double zigzag. In conclusion, we are in the wave an after wave x correct former zigzag in wave 3 or (C) and wave (C) in wave x3 of supercycle.
How to trade?
I must admit that bitcoin is one of the most difficult things to trade on Earth. I don't recommend you to make a short term trade. Think long term, it has the potential to change the world so in the future their chance of soaring up more price is possible. So if I must trade I will but right now some amount of it For someone who wants a better opportunity you can wait to wave a to complete, it may complete at the resistance zone in the blue horizontal line that I plot or higher but after that, It'll correct but I think not that much because the previous zigzag: wave b retraced around 38.2% of wave a.
Ans: My suggestion is to buy it[ For someone who already passed it I suggest you hold it-long(in the case that you don't need quick money]
Warning!!!
Manage your capital very well don't, be too confident - This is just one of the idea that I analyze based on my own experience of learning Elliott wave analysis - Decide by yourself
"Don’t focus on making money, focus on protecting what you have."
Thanat Vichachai
Bitcoin is the most popular coin at this moment, last time I heard about bitcoin around in Mar the price was around 7000$ but unbelievable 9 months passed, it rallies up to 30000$. This phenomenon indicates that we are in a powerful impulse wave of a supercycle. We can not count wave three as an impulse wave because wave 2 does not comply with the rule of degree [ next wave must always retrace at least 1/3 of a former wave - it means wave 2 must retrace at least 1/3 of wave 1 Ex. In this chart wave, 1 should be at 12529.05 level so 1/3 of 12529.05 = 3758.71 so the level of wave 2 must be lower than or equal to 12520.05 - 3758.71 = 8770.34 but the price is not reached. That's why I label wave in the non-standard small x wave term or WXY. First, "W" we got zigzag which wave a has 5 sub-waves: wave b has 3 sub-waves and it's strong bc failure flat: wave c has 5 waves and it should move very strong upward. The book "Mastering Elliott wave by Glenn Neely" states that wave c of the elongated zigzag must retrace more than 161.8% a which is around 35000$.
Ans: We are in the [wave a of wave (c) or x3 of wave C of wave x3 of wave 3 supercycle]
Then we zoom in on wave c we will notice that wave c also forms zigzag upward, I label waves with the red color this one we can't guarantee that uptrend is impulse standard or non-standard. So I label 1 or (A) and 2 or (B). It is very strong to make elongated zigzag in elongated zigzag. You can notice that wave 2 or (B) is in the form of strong b-c failure like the bigger cycle. By the way, the corrective process is already finished. We are currently in wave (C) I further label sub-waves of wave (C) as a non-standard small x wave because it moves in the trendline channel, I can count it more than 5 sub-waves, and also it breaks the essential construction rule So after the x wave corrects the previous zigzag. It's now ready to form the next upside wave, mostly it will form another zigzag to make a double zigzag. In conclusion, we are in the wave an after wave x correct former zigzag in wave 3 or (C) and wave (C) in wave x3 of supercycle.
How to trade?
I must admit that bitcoin is one of the most difficult things to trade on Earth. I don't recommend you to make a short term trade. Think long term, it has the potential to change the world so in the future their chance of soaring up more price is possible. So if I must trade I will but right now some amount of it For someone who wants a better opportunity you can wait to wave a to complete, it may complete at the resistance zone in the blue horizontal line that I plot or higher but after that, It'll correct but I think not that much because the previous zigzag: wave b retraced around 38.2% of wave a.
Ans: My suggestion is to buy it[ For someone who already passed it I suggest you hold it-long(in the case that you don't need quick money]
Warning!!!
Manage your capital very well don't, be too confident - This is just one of the idea that I analyze based on my own experience of learning Elliott wave analysis - Decide by yourself
"Don’t focus on making money, focus on protecting what you have."
Thanat Vichachai
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.