Vea también
15.12.2023 11:13 AM
From the perspective of Elliott Wave theory, Bitcoin has completed the construction of a global bullish wave and has already begun the development of a bearish trend. It is assumed that the combination wave [X] has been completed, taking the form of a triple zigzag (W)-(X)-(Y)-(X)-(Z). Bulls lost all their strength upon reaching the level of 44,642.56. Thus, in the last segment of the chart, we can observe the construction of a new downward trend.
The market has likely started building an impulse wave, which will mark the beginning of a large zigzag. The indicated impulse is marked with red sub-waves 1-2-3-4-5, and its possible structure is depicted with trend lines. The first two small sub-waves 1-2 for today are completed. Accordingly, market participants may expect a drop in sub-wave 3 in the coming trading days.
In the current situation, opening short positions can be considered, as the third waves in impulses are usually the largest and most powerful. The nearest target where the price may fall is the low of 40,173.07, marked by sub-wave 1.
Trading recommendations: Sell at 42,990.87, Take profit at 40,173.07.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
