In this technical blog, we will look at the past performance of the Daily Elliott Wave Charts of Bitcoin ticker symbol: $BTCUSD. We presented to members at the elliottwave-forecast. In which, the rally from the 21 November 2022 low is unfolding as an impulse structure. Showing a higher high sequence favored more upside extension to take place. Therefore, we advised members not to sell the crypto & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:
Bitcoin Daily Elliott Wave Chart From 6.30.2024
Here’s the Daily Elliott wave chart from the 6.30.2024 weekend update. In which, the cycle from the 9.11.2023 low ended in wave ((3)) at $73794 high. Down from there, the BTCUSD made a pullback in wave ((4)) to correct that cycle. The internals of that pullback unfolded as Elliott wave flat structure where wave (A) ended at $56500 low. Wave (B) bounce ended at $71958 high and wave (C) managed to reach the blue box area at $54362- $43498. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.
BTCUSD Latest Daily Elliott Wave Chart From 7.21.2024
This is the latest Daily Elliott wave Chart from the 7.21.2024 update. In which the Bitcoin is showing a reaction higher taking place, right after ending the flat correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. However, a break above $73794 high is still needed to confirm the next extension higher towards $78616- $86338 & avoid a double correction lower. If you are looking for real-time analysis in Bitcoin along with the other crypto pairs then join us with a 14-Day Trial for the latest updates & price action. Success in trading requires proper risk and money management as well as an understanding of Elliott Wave theory, cycle analysis, and correlation. We have developed a very good trading strategy that defines the entry. Stop loss and take profit levels with high accuracy and allow you to take a risk-free position, shortly after taking it by protecting your wallet. If you want to learn all about it and become a professional trader. Then join our service by taking a Trial
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