COINBASE:BTCUSD   Bitcoin / U.S. Dollar
On the 4 hour chart, Bitcoin looks to have completed an Elliot Wave Cycle. After completion of a corrective ABC pattern at a significant . 618 retracement level of the initial impulse wave (1-2-3-4-5), the price broke through a long term S/R trend line . (see red trend line ) With the RSI > 50, and significant resistance ahead (see blue rectangle zone of S/R), a 1st test rejection could make way for a possible inverse head and shoulders formation, making a bullish case for Bitcoin moving forward.
S/R Line broken - looks like this could break into a closed triangle pattern.
Hidden Bearish divergence on RSI
Comment: Bullish


Your Analysis is amazing, I'd really appreciate it if you could give us some love, too. @TA_Trading
+1 Reply
TA_Trading Bullandbeartrading
@Bullandbeartrading, Much appreciated! You charts are beautiful! Please keep it coming. Will do :)
love seeing you sharing your view, we are all students of the market no matter how many years we are trading. i've been in this business for years and i am also sharing my valuable content, go take a look if you wish, i'm sure you will like it
+1 Reply
TA_Trading transparent-fx
@transparent-fx, Thank you! I am taking a look and love what I am seeing. Thank you for sharing informative and interesting videos with the community!
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