As we complete the fifth wave of this rising wedge, we should expect a series of ABC corrective waves. The corrective A-wave would complete the head of the smaller H/S. A bounce off the neckline would likely paint up to the bottom/middle of the purple accumulation zone, completing the B-wave. A harsh C-wave would drive us through the smaller H/S neckline, and...
Here we should be expecting a play-out of an Ascending Broadening Wedge which could potentially bring us to a range of 2500-2700 sats 1.72% (in the pocket of a major resistance and the 0.786 fib-line. A conservative move would be to buy the breakout of the light blue downward channel , bullish confirmation signaled by the dark blue line (where waves E and C lie)...
We have just now broke the orange-lined symmetrical triangle and head for the key red-dotted support. Last time we broke out of a symmetrical triangle and tested this support, we saw ~371% growth in a month. If that same relative growth were to be at the current BTC -0.28% price, we would see a ~247% increase in a similar time-frame.
ELF continues to follow its fractal pattern, as it now approaches the beginning of its expected ~150% run over July and the first half of August. As denoted by the two smaller yellow arrows, we should see a bit of a pullback from the test of the purple resistance down into the transparent box (accumulation zone). I'll be placing my buys at:
0.00010700,
0.00010200...
We have just now broke the orange-lined symmetrical triangle and head for the key red-dotted support. Last time we broke out of a symmetrical triangle and tested this support, we saw ~371% growth in a month. If that same relative growth were to be at the current BTC price, we would see a ~247% increase in a similar time-frame.
As SALTBTC exits the massive descending triangle we will most likely see the relative growth between the A and B waves mapped onto the trend-line established by the D wave. This would be caused by the formation of a complete descending triangle ABCDE wave, with its resulting breakout manifesting in the form of an accompanying 12345 wave. Price action in this wave...
As SALTBTC recovers from breaking the support of the greater descending triangle (labeled by ABCDE waves) by undergoing a falling wedge breakout, we will most likely re-enter the triangle, but by first testing the support turned resistance. Once this resistance is broken, the Elliot Waves (labeled 12345) will bring us to a crucial 4th major test of the greater...
The following 2 Elliot Waves (1-5) depict one of the wedges (smaller) and the extended bull flag (bigger). Once we see the completion of the 4th wave of the extended bull flag, we should expect the 5th wave to hit the extended flag resistance, with a then following ABC correction. The B wave will complete on a previous trend-line, as well as the support for the...
BTCUSD has currently fallen into an ascending broadening wedge, as shown by the Elliot Wave. This leads into a corrective ABC wave, where the B wave hits the fib line, and the C wave bounces us to another fib, which is also a major resistance (4th test here) for the "greater" rising wedge forming.aaa
While we touch down on triangle support and begin wave E, I think a short-term target is $8.1-8.2k (within a few days) and a mid/long-term target is $11.5-$13k (that will occur before the end of July).
