BTCUSD Unfolding A Bullish Reversal – Elliott Wave Analysis

0

BTCUSD is trading nicely higher for the last couple of days, suggesting that maybe bigger correction on BTCUSD is over. We see a possible low at the 5904 level, from where a nice bounce followed. This can now represent wave i, followed by wave ii that can see support around the 7212 level. 

BTCUSD, 1h

Remember we are first looking for only a three-wave reversal to the upside. This is our minimum expectation.

(VIDEO) BTCUSD Showing Evidences Of A Reversal by ew-forecast on TradingView.com

If you see value in video please like this video or leave me a comment below.

thank you.
Grega

Get the 5 most predictable currency pairs

About Author

Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At Ew-forecast he helps clients and educates them about the Elliott wave principle and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty, however, is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators. EW-Forecast To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!

Comments are closed.