Bitcoin Trading Idea | Next BIG Swing | Elliott Wave (Dec 2020)
BTC/USD (daily) has been labeled within a Cycle Degree wave (III) (black), late stages of development.
Primary 5 (green) would be expected to finalize with the next expected bullish swing, and could also present an extension.
The Elliott Wave Channel empowers more gains ahead, and also signals the fact that Intermediate (5) (green) could be commencing along with a break-out.
BTC/USD - Daily Chart
Primary 1 (blue) Structure - Impulse
5-Swings Sequence in an impulsive manner, the breaking point.
Intermediate (2) (blue) - Zig-Zag
Corrective Structure, Retest & Support.
Intermediate (3) (green) - Impulse - Termination Points
Bullish Rally, presenting an Extension.
The Elliott Wave Channel points towards more up-side.
Intermediate (4) (green) - Running Contracting Triangle
Sideways Correction points towards a break-out pending.
Levels in Focus: $18500
Primary 5 (green) would be expected to finalize with the next expected bullish swing, and could also present an extension.
The Elliott Wave Channel empowers more gains ahead, and also signals the fact that Intermediate (5) (green) could be commencing along with a break-out.
BTC/USD - Daily Chart
Primary 1 (blue) Structure - Impulse
5-Swings Sequence in an impulsive manner, the breaking point.
Intermediate (2) (blue) - Zig-Zag
Corrective Structure, Retest & Support.
Intermediate (3) (green) - Impulse - Termination Points
Bullish Rally, presenting an Extension.
The Elliott Wave Channel points towards more up-side.
Intermediate (4) (green) - Running Contracting Triangle
Sideways Correction points towards a break-out pending.
Levels in Focus: $18500
