LONG TERM BEAR
Indicators in the weekly/monthly time frame show Bitcoin has further to fall:
-RSI: 2W-Monthly candles show it still has room to move into over sold territory.
-MacD/Histogram: 3W-Monthly candles show no strong indication of flipping.
-Elliott Waves: agrees with bearish set up.
-Candles: still showing lower lows & lower highs.
SHORT TERM BULL
In the 5D-Weekly timeframe there's a 49% growth potential.
-Elliot Wave: Bitcoin completing 1-2-3-4-5 waves down to WAVE C. Currently in the 3-4 wave. Specifally, A-B-C.
Support: $5758
Resistance: $8585
FINAL BOTTOM: $2208
Indicators in the weekly/monthly time frame show Bitcoin has further to fall:
-RSI: 2W-Monthly candles show it still has room to move into over sold territory.
-MacD/Histogram: 3W-Monthly candles show no strong indication of flipping.
-Elliott Waves: agrees with bearish set up.
-Candles: still showing lower lows & lower highs.
SHORT TERM BULL
In the 5D-Weekly timeframe there's a 49% growth potential.
-Elliot Wave: Bitcoin completing 1-2-3-4-5 waves down to WAVE C. Currently in the 3-4 wave. Specifally, A-B-C.
Support: $5758
Resistance: $8585
FINAL BOTTOM: $2208