BTC – where is the bottom? Here is the answer.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi Guys!
Many of us are thinking where the bottom is and when we can expect trend reversal.
Let’s figure out this puzzle.

Long-term corrections comparison

• The last long correction took us 426 days. The current one is nearing to this time. There are only 2 weeks left from now. Please look at the
chart with a monthly interval .

• The last correction made possible to buy 1 BTC at almost 87% discount. Currently, we have nearly 82% discount.

• If the price is to obtain 87 % discount we can expect to have 1BTC for around $2600.

• 5th Elliot’s wave should bring us to the price of $ 400 000 for 1 BTC within 2/ 3 years

The current price analysis

• We have a weak resistance zone - $3520 - $3670 – so far the price has jumped up strongly – time will tell if we manage to maintain above it.

Bullish butterfly pattern - a trend reversal upcoming. It may take a couple of weeks.

• Retrace to $3200 possible

RSI - close to the bottom - within 2/3 weeks we should have a trend reversal

To sum up we think the bottom is very near.
Don’t give up and be patient. The future is yours.

So what do you think traders?
Is this scenario possible to fulfill?
Please leave your comment down below. Do see any alternative?

WBM Team
Comment: There is a chance for growth.
Comment: Safe enter above 0.5 Fib level. Retrace to 0.5 possible. Price is saturated. Correction is possible. Wait to reload.
Comment: By the way - congratulations! 16 % gain in less than 24h! :D
Comment: Got stuck in the support zone and below all EMAs. $3200 possible.
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Related Ideas

Nice TA!
WBM_Team seriousmar
@seriousmar, thanks :)
wow and this was done in January? Daaamn you guys deserve all the profits!!
Thanks a lot for the chart. Pretty nice.

+1 Reply
WBM_Team alanmasters
@alanmasters, thank you. You are a great influencer! :)
seriousmar alanmasters
@alanmasters, and its still valid!
BTCUSD H4 Correction up. Checkout the idea detail's and all the update's for the complete picture!
@Boon2, you think we will stop at $2500?
Boon2 WBM_Team
@WBM_Team, All the sign's are there for the Z down so I'm not ruling it out, how low it will go is anyone's guess. At this stage in the structure I'm looking to buy the internal C wave up to complete the X like I brought the A wave with nice profit.

This blows your wave 5 idea right out of the water.
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