Scortins

Bitcoin - The end of the correction with an ABC Elliot's pattern

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Based on Elliot/Fibonacci waves my projection tell us Bitcoin will reach the support zone around 7800, where the B wave ends, retesting the logarithm downtrend line.

Daily stochastic RSI also shows overbought, giving room for a correction before a bullish scenario.

Afterwards, a C wave will start the new Bitcoin bullrun.


******************* This is just for educational purpose. Does not use it as an advice to buy or sell************************
Very good! I'm learning a lot from your analyzes
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Scortins gilian
@gilian, Thank you =)
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