XenoBiologist
Long

BTC chose the ELLIOT WAVE!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hey everyone, I previously pointed out that BTC has a choice to make. Either a triangle formation where it would consolidate or an Elliot wave upwards! It seems that it finally chose the wave. It has now closed above the channel for the FIRST time since the all time high! Some other analyst might say this is our second or even third breach. I think things are not as black and white and we have to really get above and far from the channel for it to be official.

I've readjusted the wave and moved out the fib levels to the right.

So far it's looking good, the rocket's got enough fuel to get us to at least 12 or 12,1k. There are of course two levels of major resistance before getting there. The 11,2 and the 11,8k onwards as we approach the round number of 12k! Round numbers are incredibly important in crypto. Retail investors seem to respect them to the T!

The RSI is starting to get closer and closer to the 70 level. As it gets there our rocket will start to slow down, and eventually correct for the 3 - 4 corrective wave before going back up. The MACD is looking for positive separation.

Targets remain the same. Short term we should get to around 13k BTC and then we will reassess any possible patterns or formations at that later stage.

BTC is having a hard time climbing! False breakout? Real breakout? Let's watch and see!

Finally some market sentiment! PEOPLE ARE TIRED OF A BEAR MARKET! THEY ARE TIRED OF BEING DOWN! Will we go on to an extended bear market? NO! Watch these addresses, rich list.

https://bitinfocharts.com/top-100-riches...

They are buying. Governments all good news so far! Arizona pay taxes in crypto, GEORGIA is next!

https://www.coindesk.com/georgia-us-stat...

Also watch how one of my previous charts plays out. IT IS A LONG TERM PLAY! Where are we going? UP! BULL RUN? Hmm maybe up and slightly sideways I would say, but then after than summer time maybe even spring! UP UP UP!


This is of course not financial advice please do your own research.

Wish you the best of luck!
X
Mar 02
Comment: Seems as if BTC is having a hard time going up. But we're still going up guys, it evens seems to have formed a small bull flag!
Mar 03
Comment: BTC is still climbing once we reach first target I will update the chart.
Mar 05
Comment: Update

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