Ok, let's start with saying I'm not bearish or bullish, just reading the facts.
Fact is we broke the downtrend and the CCI became above 200 so we can call it an uptrend.
Nobody knows if this is manipulation or something else so I stack to the facts we can see.
Let's just say this is a healthy market, if the second bottom (the second line of the elliotwave) has a lower bottom than where the first one started the elliotwave is broken and we are still in a downtrend. However if the second bottom isn't lower, which seems logic in this current market, we are in an uptrend.
Relax! This is just the first wave and the second wave isn't even confirmed so maybe we will see a downtrend it's not really predictable at this moment.
Sooo, what are u making this simple TA for then? Well simple, I would like to give you an insight in the current market, neither bullish or bearish is confirmed. We just don't know it, every analist that makes a prediction MAKES A PREDICTION. So we never know.
Let's stay to the facts and wait for a while. If we go up from this point the first wave hasn't ended yet, if we go down the second wave has started and will only be confirmed by a HIGHER bottom than where the first wave started and the indicators have to be positive, I'll update when we can see something.
For now, relax, take a cola and just watch the market searching for conformation.
Whatever happens, if the first wave hasn't ended, we will correct down. If bitcoin has ended it's first wave we will go down either so you have the possibility to take your positions anyway.
Fact is we broke the downtrend and the CCI became above 200 so we can call it an uptrend.
Nobody knows if this is manipulation or something else so I stack to the facts we can see.
Let's just say this is a healthy market, if the second bottom (the second line of the elliotwave) has a lower bottom than where the first one started the elliotwave is broken and we are still in a downtrend. However if the second bottom isn't lower, which seems logic in this current market, we are in an uptrend.
Relax! This is just the first wave and the second wave isn't even confirmed so maybe we will see a downtrend it's not really predictable at this moment.
Sooo, what are u making this simple TA for then? Well simple, I would like to give you an insight in the current market, neither bullish or bearish is confirmed. We just don't know it, every analist that makes a prediction MAKES A PREDICTION. So we never know.
Let's stay to the facts and wait for a while. If we go up from this point the first wave hasn't ended yet, if we go down the second wave has started and will only be confirmed by a HIGHER bottom than where the first wave started and the indicators have to be positive, I'll update when we can see something.
For now, relax, take a cola and just watch the market searching for conformation.
Whatever happens, if the first wave hasn't ended, we will correct down. If bitcoin has ended it's first wave we will go down either so you have the possibility to take your positions anyway.