Bitcoin set up a ideal elliotwave scenerio. 1 plus 3 equals 5. Sense the last market cycle bitcoin hasnt tested a real support. Sense november 1st bitcoin saw steady upward growth to all time high of around 20k. Without testing no support. The last hard support bitcoin held was at 5800. So from 5800 wave 1 high with wave 2 small retracement following uptrend pattern. Wave 3 is a accumulation of wave 1 all time high . What that means if wave 3 even breaks the resistance of the all time high of wave 1 wave 3 will start. Wave 3 hit all time high of 20k. Wave 4 has been the last 2 weeks with slow steady downtrending which eventually led to .62 fibnocci level of retracement pattern which leads to around 12 to 13k. If elliot wave stands true here if you add 1 plus 3 accumalitivly that equals 5. Normally the 5th wave is the largest in elliot waves in the past 5th waves have had the potential of going parabolic. Only time will tell but i believe we will see a new all time high within the next 2 weeks . i predict bewteen 25 to 30k BTC,
Trade active
If BTC hits 11500 to 11300 its not following an elliot wave time will tell but i believe the 62 fib level in bewteen 12 to 13k is where we will start to gain tractionTrade active
It broke the support but due to the volatility of the market and overselling due to stop loss limits and BCC being added to coinbase around the same time . These factors i think will just delay the 5th wave a few more days. I still predict a large 5th wave in a extra 3 to 5 days from my original predictionTrade active
It has been 6 days now sense i thought a major uptrend was going to occur. Currently BTC is testing 13k supp over and over for the 3rd time now. Thats a sign of a solid support forming there. i still expect to see big movement in the upcoming 4 to 7 days!Order cancelled
For the time being i think i was off a few weeks on the time of the pump it definitly ended up not being a elliot wave unfortunatly but i read the market took the signs and unfortunatly on this one i was wrong but that being said BTC will pump its just a matter of time
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.