BTCUSD Logarithmic Elliot Wave 5 Path
Updated
350k is the next logical resistance. Please take special notice of the yellow painted "inside bars" at the base of wave 3 and the base of wave 4, where I start my 20 monthly bar count. As we all know, the inside bar is the point of price inflection directing the next leg of the impulse. Also, when examining the logarithmic move of BTCUSD , I take note of the giant monthly hammer that starts this move.
Comment
Even with some consolidation around 50k - the pattern is quite intact.Comment
Pattern is still intact. I know it's tough to see it at the micro level, but exponentially look towards a 3.5 standard deviation move until Feb2022 and then a retracement test about 2 deviations.
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.