k33st

BTC, september and Elliott waves

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We are the 02 of September, in a week end. Where prices often jumps in the side of the downtrend.
This is the firsts days of a month, this alone explain higher prices.

The last peak at 7.2K was the 7th peak. Not a Fibonacci number.
This means, following Elliott principles, that the uptrend isn't finished.
It will continue to the 11th peak to complete a probable wave.

Or it will break at the 8th.

8 & 11 are to be watched carefully.

If succeed to 11, a BTC 4th wave pump at 9-10K would be very probable.

Failing at the 10, could mean a 21 floor Elliott wave , meaning a slower growth of many months.

BTC price is kept « low » by a high dollar. In a situation of a stable dollar, the BTC price should had been one level up.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out