Technical Analysis

Elliott Wave Analysis And How Bitcoin DroppedNov 16, 2021

Hello traders and investors!

In this article we want to show you from a technical point of view and from Elliott Wave perspective why BTCUSD turned down.

On November 05 we have noticed slow price action and sideways wave structure after an impulsive move up, which usually suggests a corrective movement within wave 4. And because of contracting range, we labeled a triangle, corrective price action that was pointing higher into wave 5.

BTCUSD 4H Chart From November 05

 

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close