The one question that keeps boggling the mind , where is the bitcoin heading to ?
is its acting in a random fashion ?
or can we predict some moves in short term or even long term ?
Well , i present you a analysis for bitcoin using Elliott waves
We have been in a correction wave for more that 13 months now ,, and that gives us an idea to how a good rise in bitcoin will be and its time period..
we are moving in zigzag wave w-x-y-xx-z wave probably at the moment with complex correction in between
using Fibonacci of course to predict the next move or pattern
we are in a wave xx which is in uptrend move in the descending channel illustrated in the chart
we are heading to the top of the channel around 4450 -4900 USD range
THEN WE HAVE 2 SCENARIOS
1: Either we break the descending channel and break the EMA 200 and we start our uptrend and wait for a new all time high
2: we bounce back from the 4450 -4900 range and continue the w-x-y-xx-z wave and head to the 2400-2600 USD range
is its acting in a random fashion ?
or can we predict some moves in short term or even long term ?
Well , i present you a analysis for bitcoin using Elliott waves
We have been in a correction wave for more that 13 months now ,, and that gives us an idea to how a good rise in bitcoin will be and its time period..
we are moving in zigzag wave w-x-y-xx-z wave probably at the moment with complex correction in between
using Fibonacci of course to predict the next move or pattern
we are in a wave xx which is in uptrend move in the descending channel illustrated in the chart
we are heading to the top of the channel around 4450 -4900 USD range
THEN WE HAVE 2 SCENARIOS
1: Either we break the descending channel and break the EMA 200 and we start our uptrend and wait for a new all time high
2: we bounce back from the 4450 -4900 range and continue the w-x-y-xx-z wave and head to the 2400-2600 USD range