BTCUSD - fractals and Eliot outlook

The chart analysis has two parts - a fractal and Eliot wave pasterns .
1. The Eliot wave formation is called a "Complex Correction With A Small X-Wave".
https://www.topratedforexbrokers.com/images/complex-corrections5.png
2. We have a clear fractal pattern, each smaller than the previous one. after completion of the 3rd one, i expect the price to take north.

Let me know what you think.

评论:

After some turbulent days, we have another the following situation

We are forming a descending wedge, which is a bullish pattern. this pattern usually ends with a bullish wick . Now if you check the chart, after the drop from the last hour, we have a quick recovery.
We are end of week and we will have a closing daily (and weekly) candle .
If we close with a shooting star (bullish hammer /wick ) , then we will see very disappointed bears.
However, if we close below the support line, then bears will have some good time in the weeks to come.

评论:

We are very likely in the right shoulder of a Head & Shoulders pattern.
If this is the case, then we will reach the red support trend-line in the end of July or beginning of Aug.

p.s. On Aug 10th, there will be an important decision by SEC on BTC ETFs. Remember this date. we can see some sweet thousand dollar green candles !

交易手动结束:

ok, it seems we have a falling wedge with an extend 5th.
No one expected this to take so long, but sooner or later BTC will take off.