The overall correction that has started in December seems pretty obvious now. It is a triple zigzag . This complex correction is long and confusing. However its end is approaching. Breakouts following complex corrections are aggressive. One of the 3 lows with the arrows in the graphs could be where we will begin the btc -1.43% rally.
Remember, my wave targets and channels are estimate target levels and are based on Fibonacci and Elliot Wave Principles. They are subject to possible adjustments. Timeframe was not taken into consideration when projecting targets. DISCLAIMER: THIS IS NOT PROFESSIONAL ADVICE BUT MY PERSONAL REFLECTION OF THE MARKET.
I really can’t see $5700 being the bottom, that’s way to generous. Market sentiment seems to be that Bitcoin (and alts) are all way overpriced... I see us slowly working our way to 5k, possibly 4k over the next six months.
Plus the 2014 epic bull run correction had at least five zig zags... not really any reason why we shouldn’t have more gab three, especially still being a bit overvalued.
bkouassi89
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@BCryptological, $4700 could hold but it might even go lower.
Plus the 2014 epic bull run correction had at least five zig zags... not really any reason why we shouldn’t have more gab three, especially still being a bit overvalued.