Inexperienced traders will call this bearish candle manipulation. But this is basically a continuation of counter-trend (overall bitcoin is bullish; bull market) in accordance with the Elliott Wave Theory. Simply, we just experienced a bearish impulse where the 3rd wave is usually the longest so we can expect more strong bearish movements as price moves after...
Price has kept growing which has provided chances of more upside...
My bias remains bullish.
Below attached is previous analysis when price bounced off lower downward channel at exactly 100% fib:
In other words, a break above the upper downward channel will skyrocket price to higher price levels. As i predicted early, we can get $65k soon and...
- Trendline
- Wave analysis
Corrective phase before the continuation of the main Bull market cycle. Correction might be extended but we can expect a flat corrective pattern from the market.
- Trendline Analysis
- Wave Theory and Principles
- Price action
predicted $13k few months ago (back in may). From my perspective and analysis the projection gives space for more upside $14k region then a deeper correction $11-12k region before we get the surge to $16k. This might take a couple of months..
Economic news can impact as well in regards to the...
Price has been rejected a couple times so a little leap of faith for the bull jump?!... corrective phase in process.. price moved sideways before creating successive Lower Highs LHs & Lower Lows LLs. Strong bullish momentum steaming up. Major Resistance key level: 10300
Major Support Key level: 6300
Used to ascertain...
Bullish Trend & Cycle
W1 Projection:
More Upside is expected
And BTC Halving (630,000 blocks ) commences in a few days time: 6 days roughly (current block at 629,135 blocks)
- Wave C (correction) retraced more than 123.6% but not more than 161.8% leaving a limit @1660 after which the Bull market Cycle resumed.
- Daily candle closed above 1700 so we have higher chances of Upside (market psychology)
- Fib ext. showed that Buyers appeared 123.6% @1676 and 100.0% @1685
- Fib ext. also shows that strong Sellers will be seen between...
