Are the Bulls Back in Town? Or are we in Bear-ritory?
Please give me your feedback especially if you are experienced. I am new to TA and I'm still learning to correctly identify patterns and make realistic projections.
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This looks to me like natural consolidation around the 0.618 fib level (from local move) & 2.618 level (from 2018 fib targets)
The recent smaller bull run looks to me like a 1-2-3-4-5 elliott wave
I projected an A-B-C elliott correction wave based on the Fifty Percent Principle - take back half the move in half the time
I think we will see slightly more than half the move because of usual crypto volatility
Over the next week or so i'm bullish to lower high around 50k
After that, bearish and looking for a higher low and entry point around 40k
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This looks to me like natural consolidation around the 0.618 fib level (from local move) & 2.618 level (from 2018 fib targets)
The recent smaller bull run looks to me like a 1-2-3-4-5 elliott wave
I projected an A-B-C elliott correction wave based on the Fifty Percent Principle - take back half the move in half the time
I think we will see slightly more than half the move because of usual crypto volatility
Over the next week or so i'm bullish to lower high around 50k
After that, bearish and looking for a higher low and entry point around 40k
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