Jump to content

Bitcoin BTC-USD Elliott Wave Technical Analysis - TradingLounge

Recommended Posts

Bitcoin BTC-USD Elliott Wave Technical Analysis - TradingLounge
Summary: Bitcoin's high is expected around 25k as Wave 1 or C
Elliott Wave: Wave iii) 
Strategies: No Strategy / Exit Longs next high or hold for 25K

Bitcoin CME Futures contracts are still 25% shorts over 6% longs and with diminishing volume in the current trend upwards will see this market turn around the $25,000 price level.
In terms of the TradingLevels the 25K is the Medium Level and will not only play a strong resistance, but is in line with a top for the Elliott Wave count terminating around the 25k price point.
Expect a top at around the 25k, this top will also coincide with other global Indices markets including the EURUSD, GBPUSD, AUDUSD topping out

Analyst Peter Mathers TradingLounge™ 



Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
    • Total Posts
    • Total Members
    • Most Online
      10/06/21 10:53

    Newest Member
    Joined 30/01/23 19:24
  • Posts

    • Trying to buy First Trust Nasdaq Cybersecurity ETF (CIBR) but the order keeps getting rejected, even with Order type = limit and expiry = Day (all  sessions).  Please advise.
    • @MongiIG How long does it take to reply to a simple question?
    • Look Ahead to 31/1/23: Big data from the US, China, Japan; PFE, XOM, AMD earnings Ahead of the Fed meeting and the key US jobs report, investors get set to digest retail sales numbers from Germany and Japan. Plus, look out for consumer-related data from China, France, and the US. Earnings see Pfizer (PFE), Exxon Mobil (XOM) and Advanced Micro Devices (AMD) hand in their Q4 report cards.   Angeline Ong | Presenter, Analyst and Content Editor, London | Publication date: Monday 30 January 2023        
  • Create New...