In this post, I am going to do a Harmonic Elliott Wave Analysis on BTC.
First, I see the price action of BTC from August 2011 to November 2021 as 5 complete waves to form the largest-degree wave A. Since then, BTC has started a correction as wave B in the form of a triple zigzag:
Looking into more details of wave (Z) on the daily chart, I would say that waves A and B of (Z) are complete and we are in wave II of C of (Z) at the moment.
First, I see the price action of BTC from August 2011 to November 2021 as 5 complete waves to form the largest-degree wave A. Since then, BTC has started a correction as wave B in the form of a triple zigzag:
Looking into more details of wave (Z) on the daily chart, I would say that waves A and B of (Z) are complete and we are in wave II of C of (Z) at the moment.
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Updated count on the daily chart:
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