petermoo

Bullish Bitcoin from a Bigger picture?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
many analysts are getting bearish

but could recent movement play out perfectly in an elliot wave counting?

If yes, we'll see BTCUSD             go up higher and faster on wave 3

I don't see this as impossible as every count has been obeying rules and fibs

Currently price is finding support at 200MA and Fib extension target of 123%

And for BTCUSD             to prove itself, it has to cut through several major resistance levels

Do not dismiss it as impossible!

Sometimes it merely take a single news or price action to determine the beginning of a new trend, and especially so in cryptos

i think it'd be wise if we sit on the sideline to watch how BTCUSD             unfolds subsequently

Good trading!
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