JordanAadiel

Complete Market Cycle x BTC Part 9

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Possibly the most prolific take on the future of the coin given the current, controversial period of its existence. Here we see a complete market cycle based on the Elliott Wave theory. The layout is limited to primary and intermediate waves only with exception to the emphasis placed on the leading diagonal pattern. The motive VS correctional distinction is also highlighted with 5 intermediate motive waves as well as 3 intermediate correctional waves. The price right now resides in a symmetrical triangle biased to a reversal with a possible false breakout - nothing further than 28k. Thus I strongly believe the 3rd wave of the primary cycle shall follow, taking Bitcoin to new highs and to the moon !