BTC smashed through a lot of resistance areas over the past week.
The volumes are growing which is a good sign.
Now, I don't claim to be a master at Elliott Wave theory, but from what I know it's possible we are forming a larger corrective structure. According to Elliott wave theory, in a corrective move waves A and B will consist of a 5 wave structure and wave B will consist of a 3 wave structure. It could be we're forming the B wave at the moment.
There was a rejection at the most recent high near 41k. It's very likely we break above that and test 47k, which will be the true test whether the bull market is still going or not.
The volumes are growing which is a good sign.
Now, I don't claim to be a master at Elliott Wave theory, but from what I know it's possible we are forming a larger corrective structure. According to Elliott wave theory, in a corrective move waves A and B will consist of a 5 wave structure and wave B will consist of a 3 wave structure. It could be we're forming the B wave at the moment.
There was a rejection at the most recent high near 41k. It's very likely we break above that and test 47k, which will be the true test whether the bull market is still going or not.
