TheCryptoRuler

TheCryptoRuler Updated 

As you can see, from my main idea we are still in a correction phase. Having possibly finished leg B of this correction, we should be heading for $8500-$8600 with possible wicks to the $8280 region. I was hoping that we would go up to the .786 fib level, but currently do not see that with multiple bearish divergences showing at the time of writing this. Once we...

TheCryptoRuler Updated 

With this Elliott Wave count, we have one more major wave up to the 10.3 - 10.4k region. Not completely satisfied with this current correction and so that is why I believe we will head down to the 0.618 - 0.65 region (8500-8560) first before starting the large wave up. There is still a good chance that we are heading to the 10k region now, I still have part of...

TheCryptoRuler

As Bitcoin nears the Log downtrend, we can also see that we hit perfectly the previous uptrend line. That combined together along with a strong Fibonacci level and the current lack of momentum. To me it looks like we may be seeing a large dump in the near future.. There is still some room for $8550, but be sure to look for any signs of an upcoming dump. At the...

TheCryptoRuler

Seems to be following a channel at the moment. A retrace to $8200 before one more leg up to the $8700 level would be great, but currently my prediction is for a slow climb to $8600 over the next 2-3 days before hitting the down trend line and retracing from there.

TheCryptoRuler

If BTC breaks down from this purple wedge, we could be seeing the $7600 - $7750 as an area to look for a bottom. Currently have bids in this area to add to my current $7860 position. Although $7800 is heavily guarded with hidden walls. Looking then to complete a 5th Wave up to $8700 - $8500 to meet the Log downtrend line.