- This is my quick update on Bitcoin on the 4h chart (local price action).
- Price is still holding the major support zone (21 700 USDT – 22 000 USDT) and that’s why my bias is still very bullish!
- We have an incomplete rising wedge , so there is a great chance for another wave to the upside.
- As per my Elliott wave analysis – we are basically in the middle of this “huge” Impulse wave!
- There are a lot of Elliott waves combinations, but i think this is most probable scenario.
- https://www.tradingview.com/chart/BTCUSDT/SsfJst0j-Bitcoin-BTC-Ready-for-another-pump-Wedge-Elliott-Wave/
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Tolberti
Professional trader and analyst. My specialization is in Elliott Wave Theory, Fibonacci tools, chart patterns, candlesticks, and price action. To analyze market structure, I use market profile and volume profile in my trading system. To analyze trends, I use trendlines, VWAP, and simple moving averages.