Bitcoin -- Elliott Wave Forecast
Updated
There is an increasingly high likelihood the sell-off in Bitcoin is complete. This sell-off marks the end of corrective wave 2. What should follow is a strong surge higher as wave 3 begins to unfold.
Note
Bitcoin may be undergoing a complex correction where wave x is taking the shape of a triangle. If this is the case, then we need to look out for a break lower out of the bottom trendline of the triangle. This should result in a swift and sudden decline... BUT this decline will mark the END of the correction. Bottom line, the bigger trend is pointed firmly upwards.
Note
Note
The bearish triangle scenario has been eliminated. The bullish scenario remains on favoured footing.
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