I study in detailes the trading chaos. First time I tried it in 2021 and was unsuccessful. But I used some concepts from this approach which brought me the profit and true predictions. I decided to not give up and continue to study. Today I wanna show you my thoughts about the Bitcoin for the next week.
Let’s take a look at the 4h timeframe BTCUSDT chart of the WhiteBit exchange. The dump from $25k started with the obvious 1-2-3-4-5 Elliott waves cycle. It was the wave 1, we can wait for other 4 waves in this cycle. The first wave was finished because of divergence with Awesome oscillator between subwaves 3 and 5. Now the price is forming wave 2 as the ABC correction. Wave A is represented as the triangle a-b-c-d-e. Now the price is in wave B, which can collect liquidity below $19500. After that the wave C is anticipated which can hit 0.38 Fibonacci retracement level of all wave 1. The target is $21500 before the new dump below $17500.
Guys, I also wanna hear your opinion about such waves charting, because I am learning this approach on practice. Of course I am sure about global picture, but in local timeframe I am struggling to predict the price move.
Best regards, Ivan
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