empty
 
 
10.04.2019 08:12 AM
Elliott Wave analysis of BTC/USD for 10/04/2019

Technical market overview:

The two orange lines on the chart might be helpful to determine whether the Ending Diagonal pattern on the BTC/USD market has completed yet or not. There is still one more wave to the upside missing in order to complete the pattern and the whole upward cycle since the 25th of March. The nearest support is seen at the level of $5,060 and if this support is violated, then another move down can unfold towards the level of $4, 928. Please notice, that the breakout from the Ending Diagonal pattern is very often sudden and severe, so it is worth to keep an eye on the current developments.

Weekly Pivot Points:

WR3 - $6,920

WR2 - $6,094

WR1 - $5,671

Weekly Pivot - $4,832

WS1 - $4,470

WS2 - $3,620

WS3 - $3,234

Trading recommendations:

The market needs one more wave to the upside so the longer-term buy order should remain open and the protective stop-loss might be moved higher to the level of $4,794. The daytraders should keep an eye on the level of $5,060 as any breakout below this level would indicate a deeper correction and further wave (4) development.

This image is no longer relevant

Summary
Urgency
Analytic
Sebastian Seliga
Start trade
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback