Hourly chart in Bitfinex.
Well, after all the nervousness caused by the lower break of the high channel and the news of the resumption of fees charges by Chinese stock exchanges that have caused the volumes to fall there, I bring you a good possibility.
The breaking of the channel was nothing more than necessary for wave 4 to be completed. Everything is perfectly aligned with Elliot's wave theory, to weigh the unbelievers. To conclude wave 5 we have the possibilities:
1) Double top with wave 3, precipitating the end of correction B on the daily chart.
2) Correction at 984.00 or later, in this case the blue lines at the top indicate the maximum possible.
- We need to keep in mind that all the fundamentals of Bitcoin are positive. The issue of scalability will be resolved soon, in one form or another. I cheer for a softfork with Segwit!
- The nervousness caused by the drop in volume in China is unknown' to the details of the Bitcoin market. We had known for a long time that the volume was made there. Bad for the bags there and good for all the bags that are not there. Even Bitfinex became the largest volume in dollars!
- Any drops that may come, including a possible C-wave correction on the daily chart, which would bring us to the value of 675.00 (yes, this is possible!) Are just opportunities to get stuffed from Bitcoin!
Time will tell!
Well, after all the nervousness caused by the lower break of the high channel and the news of the resumption of fees charges by Chinese stock exchanges that have caused the volumes to fall there, I bring you a good possibility.
The breaking of the channel was nothing more than necessary for wave 4 to be completed. Everything is perfectly aligned with Elliot's wave theory, to weigh the unbelievers. To conclude wave 5 we have the possibilities:
1) Double top with wave 3, precipitating the end of correction B on the daily chart.
2) Correction at 984.00 or later, in this case the blue lines at the top indicate the maximum possible.
- We need to keep in mind that all the fundamentals of Bitcoin are positive. The issue of scalability will be resolved soon, in one form or another. I cheer for a softfork with Segwit!
- The nervousness caused by the drop in volume in China is unknown' to the details of the Bitcoin market. We had known for a long time that the volume was made there. Bad for the bags there and good for all the bags that are not there. Even Bitfinex became the largest volume in dollars!
- Any drops that may come, including a possible C-wave correction on the daily chart, which would bring us to the value of 675.00 (yes, this is possible!) Are just opportunities to get stuffed from Bitcoin!
Time will tell!