Bitcoin elliott wave update WaveNerdによるBITMEX:XBTUSD.Pの分析

Bitcoin elliott wave update

From alth to bottom it made 5 waves Down. We are now in corrective fase up. I have provided a detailed count of the last 5th wave.
Some have the last 5 th wave as b wave. That is possible but I cannot get the subwaves to fit in a b wave. If it is a b wave we are now in an expanded flat which is about to end. For now I go with 5 waves Down and look for a zigzag up as a corrective move before new lows

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Possible bwave ss alternative to the 5 th wave

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Detailed count of the 5th wave

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Count on the move up. Looks like we in wave 4.

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Possible triangle in w 4

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Triangle could have finished with a triangle in the e wave. We will see

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Called the e wave a little early. E was a regular zigzag with a triangle in the b wave. We should get a 5th wave up before correction down to 22 k area. If we go lower the triangle invalidates.

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The correction was a wxy with a triangle as y wave like this

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As mentioned earlier this could be a 4 th wave and we are in proces of finishing the last 5th wave. However it is also possible thst recent correction was a shallow w2 of angoing 3rd wave of a c wave like this.

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If its the latter ( and indicators suggests it) next target to look for is around 36 k for s finished 3rd wave.

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5 waves up from 27.7 k is coming to an end. After the correction is done it should clarify the wavecount om medium term. Around 30.8 target for 5 th wave

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Couple of posdibilties. Scenario 1

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Scenario 2 same target as wxy

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3rd scenario. We in an unfinished 3rd wave.

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4th scenario. Technaly a perfect fit but rsi Reading make me doubt this count .

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Scenario 4 is my preferred count for now. Rsi May not be sn issue since wave 1 was extended and 3 and 5 were not. Furthermore equality between 2 and 4 in time and alteration in depth. W 3 and 5 always rougly equal in time. I look for a b wave Down to 21 k area.

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Scenario 1 or 3 seems are still an option. The count Will become clear soon.

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If current lows hold. Next level to look for around 32.7 for s possible wxy

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I antecipate something like this

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Count from top. Looks like a timeconsuming flat if bottom holds. Or we in a larger wave down

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Nothing has changed. Still downside expected.

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5 waves Down com plettes. W2 up if the above is a triangle. Rsi does not confirm s triangle . Another scenario is a flat and we get a cwave up to 30 k before more down

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Bottom in for now. A zigzag completed.

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Move up appears corrective. If so more downside.

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Bullish pattern developing leadin diagonal with s double zigzag as w1 tradingview.com/x/Co

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Waiting for wave 2 to finish. A zigzag with a flat for b wave.

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Zigzag looks finished

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Upside. Remains to be seen if 5 wave structure or a zigzag. Zigzag target White or blue Line. 5 wave structure target around the blue Line.

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Looks like we get a zigzag up. Bwave being a triangle

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Very complicated waveaction. Still possible we get a c wave up. However its doubtfull. Spottet this potential bearish pattern. The triangle aint pretty but no violation and all the subwaves with in could be counted as zigzags.

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Triangle almost invalidated. Looks like a bullish move up after all. Ld as w1 snd then another. W1. Could be a finished zigzag as well. We Will know if 27.4 comes

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On weekly tf. I look at these 2 possiblities.
Scenario 1 5 waves up as wave a. Current correction a b wave as wxy

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Scenario 2: we have finished a zigzag up as wave w. We currently in a triangle as x wave. Once triangle is finished we get a y wave up

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5 waves building up as 1st leg of zigzag Down.

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Watch out for a possible 3 wave structure instead.

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Waves clearing up. Wxy in the making. X wave an expanded flat. Current move up is a c wave of a flat finishing the cwave. The coming y wave Down Can be expected to last around 4 weeks.

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The above ongoing cwave still posdible. But 2 other counts could be in plays ss well

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Second: xwave finished and we are forming a leading diagonal as wave a of the ywave

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Complicated wavestructure on small tf but it looks like we could be in a b wave of the y wave. If so blue c could end round 25th of june.

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C wave of y in progress

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Still waiting for y wave to complete at 23.8 k. Probably 6-8 days left. Once its done a move up to 30 k is expected

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5 finished waves up. This changes the weekly count a bit. I will update later. But this wave up was the 5th wave up to finish a 5 wave structure from 15 k. Next months of b wave action with target round 24 k

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Weekly count. 5 waves finished. A wave of zigzag. W2 expanded flat. Wave 4 wxy. Equality between 1 and 3. Highest risk on 3rd and bearish rsi Div on the 5th

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Last wavecount is wring. Subwaves dont fit. Form bottom we have 5 waves up then 2 months of corrections as wave b or 2. Latest move up was 5 as well. Could be wave 2 of bigger 5 wave struction

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Complex corrective structure but most likely sn exp. Flat in the making

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Alternative bullish count. Will see if 30.5-30.2 holds

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So far a 3 wave move Down ( if its finished) in that case we have a bullish set up . So far prices making higher highs and lower lows so exp flat might not happen.