The Bitcoin is in serious trouble if it does not take out the 18,400 level. Our updated count shows a loss of momentum into the new high in our MACD and RSI indicators. Moreover we have a complete elliott wave count.
The sole alternative is an extension of wave 3, which would mean that we are currently just in wave iii° of 3 instead of our black elliott wave labels in the charts.
Bitcoin is at the moment clearly a dangerous trade from an elliott wave perspective. We project at least a meaningful top in the 17,700-18,100 area.
Trade closed: stop reached
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Pls have a look at our last bitcoin updated from December 17th.