- The price is currently above 22 000 USD and we have had a capitulation wick to 17 600 USD to kick out high leverage traders.
- I do not see any reason why bitcoin should not respect the previous all time high support from 2017 (around 20 000 USD)!
- Bitcoin on the weekly chart is currently sitting on the main support: Previous 2017 Swing high + 0.382 FIB + ABC correction completed!
- The price is forming a pattern, which is definitely a good sign that can lead to a new .
- As per my analysis – ABC correction ( 5-3-5) should be completed successfully and we can start a complete new impulse wave.
- Only Bitcoin is a safe bet for the longterm. It’s the best store of value and altcoins are awesome for short-term to mid-term massive gains.
Bitcoin BTC – New bull market just started! Elliott Wave + Wedge
Professional trader and analyst. My specialization is in Elliott Wave Theory, Fibonacci tools, chart patterns, candlesticks, and price action. To analyze market structure, I use market profile and volume profile in my trading system. To analyze trends, I use trendlines, VWAP, and simple moving averages.