E BTC/USD Turning Towards 11200/11700

After a clear five-wave move up into wave (a) from the 9300 area, we can see that price made an expected three-wave retracement. We labeled an a-b-c correction into wave (b), which can look for support and a bullish turn towards the 11200/11700 area near the 9900/9700 region.

Also a potential Elliott wave ending diagonal can be ending within the final leg c, so be aware of a powerful turn higher.

BTC/USD, 1h

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.