BTCUSD green days till complete head&shoulders confirmation?
So far we are still moving according to plan, as long as we dont drop back into the descending triangle or below.
We seem to be holding the upper line as support for BTC which should be good grounds to enter the 3rd elliot wave which allows BTC to form a very solid Head&Shoulders. This would once more confirm the absolute bottom we saw June 28th.
This is the bullish formation possible. If this plays out over the next weeks, the market will become 100% bullish once again.
We seem to be holding the upper line as support for BTC which should be good grounds to enter the 3rd elliot wave which allows BTC to form a very solid Head&Shoulders. This would once more confirm the absolute bottom we saw June 28th.
This is the bullish formation possible. If this plays out over the next weeks, the market will become 100% bullish once again.
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So far so good. As always the expected Elliot Waves are drawn WAY too optimistic, but that's fine for just perspective on the bullish side of things :D
Update: We are still in the first impulse wave, and reaching an RSI of about 60. This leaves us with some room to play, but far from enough room to reach the 9.3k.
I hope we have enough momentum to reach the 7.8k-7.9k region before entering the next minor correction wave. This would close the Head and Shoulders formation for a very bullish pattern.
After reaching 7.8k-7.9k, we will drop below the cloud again, setting us up for the next impulse wave which will allow us to beat the cloud. Finally entering very bullish times!
Update: We are still in the first impulse wave, and reaching an RSI of about 60. This leaves us with some room to play, but far from enough room to reach the 9.3k.
I hope we have enough momentum to reach the 7.8k-7.9k region before entering the next minor correction wave. This would close the Head and Shoulders formation for a very bullish pattern.
After reaching 7.8k-7.9k, we will drop below the cloud again, setting us up for the next impulse wave which will allow us to beat the cloud. Finally entering very bullish times!