The symmetrical triangle has resolved exemplarily, after an ABCDE triangle correction. Now a 5er impulse wave should take place again in the H4. The 1st impulse wave is now also since yesterday through, thus targets for top wave 3 and 4 can be found.
Since now also chart technical resistances are to be overcome again (52W High), my prognosis today is a mix of Elliot and general technical analysis.
Top Wave 3 (1.618 * Size Wave 1 + Low Wave 2) = approx. 14,648 USD/BTC
There are different methods for the calculation of the wave 5 - I suspect that it corresponds approximately to the size of wave 1 and NOT (size wave 1 * 3.236 + H/L wave 2), because just the market is somewhat uncertain - 52W high is still to be overcome.
Top Wave 5 (Size Wave 1 + Low Wave 4) = approx. 16,000 USD/BTC
Image 1 - H1:
After the breakout of the symmetrical triangle, a 5-pulse wave was generated (wave 1 in H4). Then an ABC correction followed by an ABCDE rising triangle consolidation. Now we are again in a 5er impulse wave (wave 3 in the H4), which probably has to fight again with the 52W high. The rest, ABC correction (wave 4 in H4) and 5 impulse (wave 5 in H4) will be analyzed in due time.
Image 2 - RSI - D1:
According to TA, everything is going very bullish right now. RSI has enough air upwards.
Image 3 - MACD - D1:
The MACD has higher highs, higher lows, as well as bullish cross.
Since now also chart technical resistances are to be overcome again (52W High), my prognosis today is a mix of Elliot and general technical analysis.
Top Wave 3 (1.618 * Size Wave 1 + Low Wave 2) = approx. 14,648 USD/BTC
There are different methods for the calculation of the wave 5 - I suspect that it corresponds approximately to the size of wave 1 and NOT (size wave 1 * 3.236 + H/L wave 2), because just the market is somewhat uncertain - 52W high is still to be overcome.
Top Wave 5 (Size Wave 1 + Low Wave 4) = approx. 16,000 USD/BTC
After the breakout of the symmetrical triangle, a 5-pulse wave was generated (wave 1 in H4). Then an ABC correction followed by an ABCDE rising triangle consolidation. Now we are again in a 5er impulse wave (wave 3 in the H4), which probably has to fight again with the 52W high. The rest, ABC correction (wave 4 in H4) and 5 impulse (wave 5 in H4) will be analyzed in due time.
According to TA, everything is going very bullish right now. RSI has enough air upwards.
The MACD has higher highs, higher lows, as well as bullish cross.