BTCUSD Long Opportunity – 31/1/2021

Hello traders !

This analysis is made on pure market structure !

You can see this analysis is based on The Elliot Wave Theory.

There are corrections (i – ii – iii) and waves (1 – 2 – 3 – 4 – 5 – 6) as you can see on the chart. After structure had been done,it has cretaed a Double Bottom pattern and then price shooted to the moon 😀.
Now we have the same scenario. Bullish engulfing confirmed The Double bottom pattern so we can enter long positions. If you are a bit lost in the structure,you can see a market structure scheme below. So compare it and say: “Nice ! History is repeating itself” !!!

Thank you for reading !