🔥 🔥 🔥 Comparing the major wave structures of gold #XAU and Bitcoin #BTC
On the daily chart, after surging to 5598, gold $XAU began an ABC correction in its major structure. Wave A itself has a clear five-subwave structure. The price action fully aligns with Elliott Wave theory: the main trend moves in five waves, while corrections follow an ABC structure.
On the daily chart, after falling from its high of 120,000, Bitcoin $BTC went through a clear five-wave corrective structure, then rallied from a low of 57,000 to 87,000. Bitcoin $BTC has not yet formed a major three-wave ABC correction, which does not fit Elliott Wave theory. Also, the rally from 57,000 to 87,000 did not form a clear five-wave structure, leaving open the question of whether this rise is the first major upward move at the start of a bull market or a B-wave rebound within an ABC correction. The key level is 75,000: if Bitcoin breaks below it decisively, the ABC correction scenario is likely to be confirmed. If it holds above 75,000 and makes a new high instead, Bitcoin is likely forming a five-wave structure in the first wave of a bull market.
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On the daily chart, after surging to 5598, gold $XAU began an ABC correction in its major structure. Wave A itself has a clear five-subwave structure. The price action fully aligns with Elliott Wave theory: the main trend moves in five waves, while corrections follow an ABC structure.
On the daily chart, after falling from its high of 120,000, Bitcoin $BTC went through a clear five-wave corrective structure, then rallied from a low of 57,000 to 87,000. Bitcoin $BTC has not yet formed a major three-wave ABC correction, which does not fit Elliott Wave theory. Also, the rally from 57,000 to 87,000 did not form a clear five-wave structure, leaving open the question of whether this rise is the first major upward move at the start of a bull market or a B-wave rebound within an ABC correction. The key level is 75,000: if Bitcoin breaks below it decisively, the ABC correction scenario is likely to be confirmed. If it holds above 75,000 and makes a new high instead, Bitcoin is likely forming a five-wave structure in the first wave of a bull market.
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