After a bull run we now have a correction up to the .5 Fibonacci level then hopefully if we are in a bull market we will bounce back up.
Based on the Elliot wave we now have a bit to go down to touch the support .01640
(this is not a financial advise it is only for education purposes
our support has become our resistance ..
in order to break new highs the bulls firs need to break through the to the 8,700 levels
(this is not a financial advise)
Now it's a safe bit to say that within every bullish move a healthy correction is needed for the continuation of the upward trend. In this case, we are going to see a significant correction that estimated btc to be around the 6,000 level. EMA tells us that the down trend just started along with the MACD where we can see a cross coming very soon.
BULLS get your...
Apparently, we just broke our first resistance line.
Now the second resistance is at .36$. If we fall bellow that, then we are counting the falling wave. But if we break through that down wave then get your seat belts on for another big fat checks.
good luck,
Now as you all now bitcoin has been taking big ups lately. I think BTC had a correction already after it reached 8,200.. now it's going bullish as the RSI and MACD indicators show bullish signs. MACD is about to be crossed and as we have had a correction already in this bullish wave, BTC will reach the 9,100 level
