Looking @ the weekly chart of bitcoin we can see that we hit the trendline (old support) and just above there is the 50 ma. This would take a lot of power to break.
But looking @ the daily rsi which is on par with dec 2017 and the evening doji star forming on the weekly i dont see how bitcoin will brake this area now
my primairy elliot...
I think bitcoin is now almost starting the c wave of the 4th wave of the A. We could see something like this play out in the coming days.
Volume again is very very low so it could take some time!
Since my previous idea i had to relabel the subwaves, if this plays out i will show the count on a larger timeframe
pls follow me here on tradingview and on twitter for...
In this count btc just ended the 5th wave of the 3rd of the 5th. From which we got a nice reaction... This last 5th wave came untill the 0.618 of the 3-4 and simular in length of the 1st wave.
Bitcoin is currently making a 5 way structure up and is now busy making the 4th... this 5wave can become the A wave of the correction for the bigger 3rd wave down (the...
Good afternoon all,
in my last analysis i expected bitcoin to retrace further up till around the 4600/4800 region and make a bigger and complexer correction but it did not. (correction are always the hardest to predict, and there was no short squeeze).
In the coming few days this is one (my primairy) of the options imo (i will see if i can make some time to...
this is an possible path that eth/usd can take today, last big correction before the last big leg down in my opionion.
the correlation between eth and btc is very clear, so like you can see the paths i draw are almost identical (link for btc is below)
Possible path (imo the most logical) volume is low and bitcoin is very slow in correction waves especially when it is in the weekend.
This correction would fit in nice in the bigger picture. pls also check my wxyxz correction i charted in august.. press play and enjoy.
I will put the link in here
Where is the bottom?
I am still convinced that we have to test the old low.
and probably we will break it and finish the correction @ 4900-5100
Hope it wont take to much time, a fast correction could mean a fast recovery.
After the correction it is time for an bull run
To really confirm an uptrend i think we need to break the old high (20k)
Bull trap is still possible, we could bounce back from the 12k to test the previous low (6k)
And finish the correction to probably 4900-5100 or the 0.786 retracement level 4200