COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Elliot wave is about to form wave 3, which is certainly the biggest wave of a cycle.
Also, the RSI is on an all-time-low!
We just recently touched the lowest of the bollinger bands!
MACD is in a bearish sentiment but the lines are about to cross to shift bullish again!
The histogram looks like it completed a cycle, too.

Is this the time to be very, very bullish for the next 12 months?
We might go further down but there is not much room to the downside before we explode to the upside!

Comments

isnt that a wrong EW counting? ur 5th wave is lower than ur 3rd wave, but 5 has to be higher than 3? Ur wave two is lower than the startpoint of ur wave 1, but two cant be lower than one, right?
http://stockcharts.com/school/doku.php?id=chart_school%3Amarket_analysis%3Aelliott_wave_theory

Rule 1: Wave 2 cannot retrace more than 100% of Wave 1.

Rule 2: Wave 3 can never be the shortest of the three impulse waves.

Rule 3: Wave 4 can never overlap Wave 1.
+1 Reply
@mrz0rn, Good point
Reply
@mrz0rn, thanks!! I am still learning and really new into trading.
+1 Reply
mrz0rn exclusiveee
@exclusiveee, ur welcome bro ;)
Reply
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