BTC downtrend resistance and uptrend support are going to meet at a point and we have high chances of winning of uptrend ! Using fibonacci retracement techniques and considering a lot many factors this is what i have to say ! We could have a long elliot wave like that as per me ! The short one will complete soon though . ( I had posted one elliot on fb and just today i noticed the fall we having today is ABC of that wave. Making so many elliots in one graph messes it up completely ) . Anyways get ready for the war ! Most of things should be clear from the chart itself ! If there is something that you are not getting do let me know ! Also volume is the only problem we are suffering from which we would like to see at this war !
You would be thinking despite of such a huge fall ( many calling it bull trap) i m making such an elliot wave ! Well this is what i think guys ( uptrend should win over here ! ) Though we need to check it and await for confirmation ! Get ready for our test of Trend ! Chances of loosing are there (bcz we still not in uptrend !) but low !
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Guys plz also plot the graph yourself :) join things properly ( from lowermost candle of bottom ! i did in a lil hurry as i was working on some other things ! ) and draw thin line ! You will find that so far we got support at our trend line ! (2 red candles tried to penetrate but the next green candle was made above it completely ) ! Hope that this support won't break !
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Its. Really bad ! No volumes ! We will get another support though! This elliot still has lot chances of getting completed ! We need to move ASAP to uptrend region (it will go in this elliot way ! Let wave 2 be lil longer than mentioned here).
yes brother but low volume may defeat us ! And btc not in uptrend so far !
SunnyNehra
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@StocksMaster, hm... thought so brother ! Like if we see alt coins they are still in down trend means market still not in uptrend but less chances of loosing here