The ultimate XMas present? Bitcoin-Analysis (Elliott Wave, S&D)

Do not buy bitcoin now. Wait until the correction has finished.
I see bitcoin currently in a big correction. -> wave 2
We can see several zig-zag formations which i summarize in an wxyxz correction.

We are overall in the third wave which means that the next wave can be very impulsive.
But first i want to see another move to the downside at least to 0.786 fibonacci level.

Furthermore there is a weekly demand zone which is usually very strong.

If you agree with my analysis please leave a like and follow my idea.
Let me know your view in the comments!
I will update this post in the future. Stay tuned.

Thanks for reading,
stibo :)

تعليق:

Possible Long Trade (Short Term)

We have a demand zone on the h4 timeframe.
Tp is just temporary.
Set your sl to entry after 30-40 pips in profit.

تعليق:

Move SL higher to invalidation level.
You can enter again if price goes to demand.
SL = invalidation level