Elliott Wave Analysis: Potential Correction Ahead
This is an Elliott Wave analysis.
We know that the market is fractal, and we find this wave behavior on any time frame. According to my observations, it seems that we are close to an 'ABC' correction in the micro-trend (1D), and in the macro-trend (1W), we would be near the 4th Elliott wave, which corresponds to a correction of 11% - 15%, or it may retrace near the following range: ($16,300 - $15,800).
Attached to this thought, I have marked all corresponding Elliott waves. Please let me know what you think. :)
Disclaimer: This analysis is solely a thought and should not be construed as an investment recommendation. Investors should conduct their own research and analysis before making financial decisions. The information provided here is for informational and educational purposes only, and does not constitute financial advice.
We know that the market is fractal, and we find this wave behavior on any time frame. According to my observations, it seems that we are close to an 'ABC' correction in the micro-trend (1D), and in the macro-trend (1W), we would be near the 4th Elliott wave, which corresponds to a correction of 11% - 15%, or it may retrace near the following range: ($16,300 - $15,800).
Attached to this thought, I have marked all corresponding Elliott waves. Please let me know what you think. :)
Disclaimer: This analysis is solely a thought and should not be construed as an investment recommendation. Investors should conduct their own research and analysis before making financial decisions. The information provided here is for informational and educational purposes only, and does not constitute financial advice.