The target and expected movement of Bitcoin

The target and expected movement of Bitcoin - 2

After following the bearish wave, which consisted of 5 bearish waves, and it was expected to rise after 3 waves, and we mentioned it before ending the last drop, in the previous analysis.
In general, almost now, the bullish wave ended at 46877 as a top, at best I don't expect it to go above 47222
Then we enter a descending wave consisting of 5 waves according to the chart
We will wait until the top confirms this ascending wave to start talking about the next wave
Good luck everyone

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A lesson in Elliott waves
From Elliot's Laws
Wave 2 retracement is at least 38.2% of wave 1, if the correction stops at sub 4 of wave 1.
The retracement often reaches 61.8% of wave 1 at sub 2 of wave 1 which is the most common case. (This is exactly what we have, and you can see it on the graph)
Very rarely, the retracement range can reach 76% of wave 1 and this does not violate the basic rules of Elliott waves.
I just wanted everyone to be with me in learning technical analysis and be aware of what is happening.

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If this analysis is correct, we should see bearish big red candles.
It is a characteristic of the third wave.
we follow.
Good luck to all.

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hahahahaha

I think this type of wave is called (flat irregular) and this type is the wavelength C
Minimum 161.8% of length A
to 300% max and this is the correct number 47342
The wavelength of A.
45000 - 43927 = 1073
1073 x 300% = 3219
the bottom of the B wave,
44123 + 3219 = 47342
I am very sorry for the inadvertent error. I wrote that number 47222 or less, which is supposed to be 47342
I should have typed 47342 or less

I repeat my apologies

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To be clear in my words and analysis
We are not supposed to get past 47,342
To be 100% analysis.
Any excess of this number is 47,342. This analysis must be reconsidered.
It is clear .

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So far we have formed 3 waves from 43927 to 47390

If it exceeds 47342
So we will move to the previous high 48053 and from 48144 to 49 and the target will be around 50600
This means that we have formed five ascending waves,
We follow the most important number 47342
The difference between ups and downs

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If it exceeds 47342
My next targets for the sub-wave will be 47363.00 - 47773.00
The last thing to say in case
I think we'll be a doji for today's candle, so trading will be boring

Good night
I have to go to sleep

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After analyzing the previous descending wave, we said that we have an ascending wave after it.
And we said that this wave is triple and we put a condition that does not exceed 47342
So that it was equal to 300% of the length of the first wave
Now, after passing 47,342 it was the fifth wave
So far, being five waves up, this is a clear evidence that we will continue to rise to 50600-51000
It will be a drop in three waves and then rise again from the previous high achieved by 49096
I will do a complete conversion
On the other hand, I apologize for this error.
But the overlap of the waves from 48144 and then going down and rising again to 48053 was the problem
And I'm not putting this as a reason, but this is what happened to a wave reading error
I'm taking this error
I repeat my apologies

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This is the expected scenario for the wave
Just when I finish my work will I send an analysis

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moneer618

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โดย moneer618

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