BITCOIN : ELLIOT IDEA FOR LONG
Updated
After having finished the ABC correction wave, we may enter in a new impulse wave on the long-term.
The impulse wave I drew thanks to Fib retracement, indicates the different zones where we could find tops and bottoms.
During the next few weeks, bears would dominate the market until we reach the buy zone located between $7826 and $8255. That zone matches the 50%-61.8% zone of the Fib retracement in which the wave two often completes.
I would update that idea if some changes happen in the market.
The impulse wave I drew thanks to Fib retracement, indicates the different zones where we could find tops and bottoms.
During the next few weeks, bears would dominate the market until we reach the buy zone located between $7826 and $8255. That zone matches the 50%-61.8% zone of the Fib retracement in which the wave two often completes.
I would update that idea if some changes happen in the market.
Note
Bears are here, before panicking, just keep in mind that we always find higher lows. Moreover, we have been talking about cup&handle formation, but we are always waiting the real handle. Take a look at this chart, BTCUSD and many other cryptocurrencies would follow that pattern.
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