Tommy_Trader

Bitcoin = Endless sideway moves = no fun trading? For how long??

BITFINEX:BTCUSD   Bitcoin
Here is Bitfiniex 1D.
I have performed a long-term Elliott Wave counting.
Considering the corrective phase going on for almost about a year as a triple combo, I have counted the waves with WXYXZ structure.
Moreover, I have interpreted the converging triangle pattern as ABCDE corrective wave for wave Z.
For now, we have to pay attention to the green long-term trend-line as shown below in the log chart.
We might expect some huge price action before February 2019.
If BTC drops before that date, we can expect a decent support from that trend-line.

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