SF BTC LOOKING FOR A BOTTOM FOR WAVE 4 (6650-6500)
Updated
On it's way to C(6650). This support might hold, in which case we might have a breakout on D. That will start the wave 5.
Other potential supports for BTC are 6500 and 6430.
If it doesn't hold above these supports tomorrow, by extension this will lead up to 5950. However by the current structure. This is highly unlikely.
It's quite an obvious analysis at this point, it's just a short update. The long time frame analysis is in the Related ideas.
>>If you liked this Elliott wave take on bitcoin , give it a thumbs up and follow for more.
It seems that the summer will be extremely volatile for all markets. There will be plenty of detailed analysis following up.>>
Other potential supports for BTC are 6500 and 6430.
If it doesn't hold above these supports tomorrow, by extension this will lead up to 5950. However by the current structure. This is highly unlikely.
It's quite an obvious analysis at this point, it's just a short update. The long time frame analysis is in the Related ideas.
>>If you liked this Elliott wave take on bitcoin , give it a thumbs up and follow for more.
It seems that the summer will be extremely volatile for all markets. There will be plenty of detailed analysis following up.>>
Note
Currently very low volume, which might be an indicator for a potential downside to (C):6500-6650.
Trade closed manually
WAVE 3 is still alive. Bullish breakout on the symmetrical triangle from the update above means targets of 8000/8450 are still in play.
It's as bullish as it gets. Good job bitcoin, squeezing in all the shorts.
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