Bitcoin found support on previous ressistance-trend-line (green line) as you can see. Eliot waves completed correction. I am looking for a move above point A (10300$) to be sure for long position and a new 1-5 Eliot wave continuing uptrend.
Good effort, but not likely. Min to 9600 more likely 8600 to 8800
elkady.alexander
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@STEVE.elliott, I would agree with you if there were no-news. But the news out there are HUGE for bitcoin, so I will go with the green-line and not with the other support line (which is not drawn in this publication).
steve.elliott
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@Elkady.alexander, All news is FUD. Trust the technical ;)
elkady.alexander
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@STEVE.elliott, I would expect a 50% retracement if there were bad-news or fake-news, fees are down etc. so 0.5 fib-retracement is out of my mind :)
steve.elliott
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@Elkady.alexander, yeh but a 38.2 min in my opinion (9600) needs to be tested, we aint got there yet