Today I am applying Elliott Wave theory to Bitcoin using the Auto Elliott Engine MT5 indicator https://www.mql5.com/en/market/product/173904
BTCUSD H4
Wave 4 is potentially in place, lets look in detail that wave in lower timeframe 1H
1H Alternate count:
Lower timeframe 1H Alternate count:
In the last image there is a Fibonacci cluster that I put in a box, the Y = 0.618 W and C = 1.0 A. If we add to that the sharp drop breaking the wave X level. Giving us evidence of possible wave 4 ended.
Auto Elliott Engine MT5 indicator https://www.mql5.com/en/market/product/173904
