Bullish Scenario
At weekly time frame you can cealrly see a bull divergence at the MACD and CCI oscillators. While at daily a clear divergence at RSI, CCI and MACD as well. Draw below is the possible movement of the oscillators that will create the divergence. While at Elliott Wave theory we're making a Combo WXYXZ 3-3-3-3 ABC correction. You can also notice the falling wedge confluence with the Elliott Wave.
I remain bearish for now as in the long term with volume accumulation and BTC dominance getting weaker as Bitcoin's forecast is often bullish in the long run. We need to wait for volume thus Elliott Wave theory and Trend based Fibonacci Time shows.
I remain bearish for now as in the long term with volume accumulation and BTC dominance getting weaker as Bitcoin's forecast is often bullish in the long run. We need to wait for volume thus Elliott Wave theory and Trend based Fibonacci Time shows.
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