Please see the post on my website for commentary on this chart. cryptowaves.com
Most Elliott Wave counts for Bitcoin are oversimplified or incomplete, failing to identify nested waves of different degrees. Here I propose a double zig-zag correction for a potential Cycle 2 bottom. The recent drop in price has made BTC retrace nearly 88% of the all time high at 1165 in November 2013. I am marking the high at 1165 as the top of Cycle 1 (also...
An update to the Elliot Wave count I have posted previously. As long as the previous low for wave ii-(1)-3 at around 390 holds then this count looks good. Detailed price commentary including indicators to follow this weekend on my website, hopefully.
Price commentary can be found at the following post on my website. www.cryptowaves.com
Commentary on my website: www.cryptowaves.com
Commentary for this count is at my blog. www.cryptowaves.com
BTC price dropped slightly to the 8 day EMA. Moved into a long position at 631 with 2/3 of my total and will add 1/3 if it drops to the 21 day EMA. My stop is a close below the 21 day EMA The squeeze indicator combines bollinger bands and keltner channels to identify when the market is ready to move in a directional manner. Combined with momentum (shown at the...
Update to the chart I published yesterday. Valid as long as price does not rise above 520. www.cryptowaves.com
Commentary available at www.cryptowaves.com
Price will be rangebound between $400 and $600 for the short term before building into a third wave higher.