🚨 VIRTUAL/USD 2H - Short-Term Elliott Wave Analysis 🚨
The current price action on the 2-hour chart suggests we are navigating the internal structure of Wave (a). Here is a breakdown of the current momentum and what to expect next:
📊 The Elliott Wave Breakdown:
* Waves i & ii: These marked the initial downward shift and the subsequent minor pullback, setting the stage for the bearish trend.
* Wave iii: A powerful Impulsive Leg that drove prices significantly lower with high momentum.
* Wave iv (Current): We are currently witnessing the conclusion of the Wave iv correction. The market is consolidating before the next potential move.
⚠️ Key Levels to Watch:
* Invalidation Level: Marked by the Red Line on the chart.
* Bearish Thesis: As long as the price remains below this invalidation level, the current bearish setup remains valid. A break above this line would negate the current wave count.
💡 Trading Sentiment:
The structure suggests that the corrective phase (Wave iv) is nearing completion, potentially paving the way for the final impulsive wave of this sequence. Always manage your risk and wait for confirmation.
⚠️ Disclaimer: This post is for educational purposes only and does not constitute financial advice. Cryptocurrency markets are highly volatile. Always conduct your own research (DYOR) and apply proper risk management before entering any trade.
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