Block, Inc – XYZ (SQ2) Elliott Wave technical analysis [Video]

By: bitcoin ethereum news|2025/05/15 15:00:13

ASX: Block, Inc – XYZ (SQ2) Elliott Wave technical analysis Today’s Elliott Wave analysis provides an updated view of BLOCK, INC – XYZ (SQ2) on the Australian Stock Exchange (ASX). We are observing a potential market bottom forming around 61.42 , marking the completion of a five-wave decline. Currently, wave 1) – orange appears near completion, setting the stage for wave 2) – orange to move lower. Once this corrective wave concludes, it may pave the way for a rally into wave 3) – orange . One-day chart (semilog scale) analysis Function: Intermediate Trend. Mode: Motive. Structure: Impulse. Position: Wave 1) – orange. Invalidation Point: 61.42. We suspect a low at 61.42 could signify the end of a complete five-wave decline from the high at 154.72 . If this scenario holds, we anticipate a minor pullback in wave 2) – orange , followed by the start of a bullish wave 3) – orange . Confirmation of this will depend on whether wave 2) – orange successfully concludes without breaking the invalidation level. Four-hour chart analysis Function: Intermediate Trend. Mode: Motive. Structure: Impulse. Position: Wave 1) – orange. Invalidation Point: 61.42. Similar to the daily chart, the four-hour view supports the theory that the market has possibly bottomed at 61.42 . From there, the price may resume upward movement, contingent on the end of wave 2) – orange . Once this wave completes, the path toward a bullish wave 3) – orange becomes more probable. Conclusion Our Elliott Wave forecast for BLOCK, INC – XYZ (SQ2) provides a technical outlook based on wave patterns and potential pivot levels. The 61.42 level remains key as a critical invalidation point. Monitoring the transition from wave 2) – orange to wave 3) – orange will be vital in gauging the strength of the upcoming trend. Block, Inc – XYZ (SQ2) Elliott Wave technical analysis [Video] Source: https://www.fxstreet.com/news/block-inc-xyz-sq2-elliott-wave-technical-analysis-video-202505150623

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