chessnut

Bitcoin long term bottom approaching

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
1263 4 16
Today an EW count for BTCUSD             was clarified by some corrective behaviour and price level breakouts. we are now in a corrective wave IV, heading towards the territory of wave iv ( III             ) cerca 450. This points to a long term bottom in the mid 200s in around December. this will serve as a base for price to move above all time highs to complete a grand cycle.
From an EW perspective the bottom does not seem to be in yet although it was great to see this play out for trading purposes.
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Since this is Bitcoin, I don't think that we will see bounce that is that strong anymore. I doubt the price will get higher again than $390 at the next bounce from around ~$300.
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Go bulls go
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Lovely!
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