This is a longer term look at BTC's upward pressure. After being forced to recount my Elliot Wave's from the former "idea" (short term look) I am forced to go back to the drawing board, find the larger waves, and thats what we are looking at here. I don't see BTC making the fall to 8k, 9k, or 10k, that so many have talked about.
It is on its way upward.
I'll break down smaller waves after getting this published, but for now this long term look is important. I've looked at multiple different cycle looks, volume indicators, even the RSI (seen here) and there really isn't any indicator that tells me BTC is facing any downward pressure at this point. I'm a believer that the long term correction is over. What is the new trend? From what I can tell, its upward again.
This channel looks too sharp to me, and I have a hard time buying it... but this is the chart. This is the math, and the TA and BTC has shown me steep slopes before. I hope we all enjoy the peak!
It is on its way upward.
I'll break down smaller waves after getting this published, but for now this long term look is important. I've looked at multiple different cycle looks, volume indicators, even the RSI (seen here) and there really isn't any indicator that tells me BTC is facing any downward pressure at this point. I'm a believer that the long term correction is over. What is the new trend? From what I can tell, its upward again.
This channel looks too sharp to me, and I have a hard time buying it... but this is the chart. This is the math, and the TA and BTC has shown me steep slopes before. I hope we all enjoy the peak!
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A shorter term look
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Suggestive Resistance Arc for the end of wave 3.
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Long term I still see upward pressure. The decoupling of other coins from bitcoin is a sign that we're going to see a few more fluid movements before the bulls really take over the market.
This is the shorter term look at BTC, and for those of you who bought, and are looking at losses, keep strong hands. Remember, we are looking months out, not days.
This is what you're looking at currently as far as what you need to stomach.
I know its ugly...but this is where profits start.
This is the shorter term look at BTC, and for those of you who bought, and are looking at losses, keep strong hands. Remember, we are looking months out, not days.
This is what you're looking at currently as far as what you need to stomach.
I know its ugly...but this is where profits start.
