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.
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S/R Line broken - looks like this could break into a closed triangle pattern. Hidden Bearish divergence on RSI
Your Analysis is amazing, I'd really appreciate it if you could give us some love, too. @TA_Trading
UnknownUnicorn924366
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@Bullandbeartrading, Much appreciated! You charts are beautiful! Please keep it coming. Will do :)
transparent-fx
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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
UnknownUnicorn924366
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@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!