Bitcoin touched 11370 over the weekend continuing to act with bullish tone even after a quite solid run so far. The pullbacks are shallow for now and if you zoom out the trend is healthy and intact. Counting the subdivisions here as they develop is a bit challenging and I need the market to prove me first that some sort of top is at hand by correcting a bit more aggressive and that is not happening just yet. So I will respect the higher trend until then and continue to look for new highs. In case this is still a 3rd larger wave , 12,100 is the 423.6 fib multiple of wave 1 and in case this is near the top of the primary wave 1 instead , then 12,300 is the fib cluster zone that would make that attractive. Either way we could be near a point where the market needs to make a decision of where to rest for a while and let other people on board. If it doesn't want to do that i am perfectly fine , it will make the elliotician's job a bit more difficult but what's new there :). Let's see how things unfold this week , the candles on that timframe remain as solid as ever no meaningful correction happens without a hint from that timeframe.
Our telegram channel "cowboy crypto markets" discusses more detailed updates and lower time frame charts. If you want to learn more about elliot wave , it's a good place to get live market info and familiarize yourself with the wave counting process.
Our telegram channel "cowboy crypto markets" discusses more detailed updates and lower time frame charts. If you want to learn more about elliot wave , it's a good place to get live market info and familiarize yourself with the wave counting process.