BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin has dropped about 70 % from its top, unfolding as leading diagonal thus completing wave A. Now, as it appears to be, wave B is in the making. This is a three wave move up and when completed wave C will lead Bitcoin to much lower levels, probably under 1000.


I don't see how how someone could try pick a price on a deflationary low cap market ignoring volume.... personally speaking.. Have you found that you are successful personally investing in crypto using this method? Just an honest observation. I mean, it is definitely probable your cup idea.. Don´t get me wrong.. Just the fact RSI on your chart is rock bottom and the mac D is crossing over and this hasn´t happened since the market was extremely bullish... Just saying..
EuroFIM Benjamix

Thank you for your comment.

My analysis is based on Elliott Wave principle and that takes in to account only five different chart patterns, anything else. Those five different chart patterns show up in every asset class including cryptocurrences and in every time frame. One of the chart patterns is diagonal as mentioned in my analysis. Those patterns give an analyst an opportunity to quite accurate forecasting. Elliott wave principle is only known method to forecast financial markets. Of course there is a lot more in this.

I use RSI and MACD only for trade set up timing, not analysis.
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