ArchieBRO

Bitcoin (BTC) - Lower High? Full Chart Prediction for H1 2018!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Disclaimer: I am not a financial adviser, this is more of a novelty but everything charted has some form of reasoning behind it, we're 5 waves completed in Elliott's wave after the down trend, I'm predicting another Elliott's to begin here, but rise to a lower high in the absence of lightning network. Enjoy!

Bitcoin             is currently sitting at the top of the falling resistance (1a). I feel bitcoin             won't complete the inverse head and shoulders pattern formation (2a.) with sideways movement breaking the down trend, but instead this will be the beginning of a new Elliot's wave (Marked in Blue) following the completion of the last, wave 2 may form a mini cup and handle bouncing off the first resistance (3a). The prediction of wave 2 is never easy so I've used the Fibonacci tool as a guide as to where the new up trend may be formed (4a). The 50% Fibonacci resistance (3a.) may be retested and may even form a new wedge between it and the newly formed ascending support line.

In the longer term, even with all this incredibly coordinated positive events of importance coming out of India, South Korea and Russia and the media back on the bitcoin             bandwagon, I feel like a new descending line of resistance (5a.) will be created at the 23% fib level in early April, ultimately making the market stay bear for at least another 5 - 6 months, UNLESS we see a successful lightning network launch creating new highs once again for bitcoin             and co, but that shit cannot be predicted!

Happy Trading and Best of Luck!

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ArchieBRO

- 2018

For what it's worth, I'm not long on bitcoin             by the way, I'm long on Lightning Network, in my opinion:

- Lightning Network Unreleased = Market stays bear
- Lightning Network Released (Successfully) = Market goes Bullish as fuck, 6 figures in a couple years a legit possibility
- Lightning Network Released (Unsuccessfully) = Bitcoin             Dies, Alt Bubble Bursts, 90 - 95% of startups abandoned, useful blockchain tech with active development rise from ashes and take the world by storm.
Comment: If we break $9k we could be seeing figures as low as $3k. Don't fuck us Elliott.
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