Bitcoin Gold Ready for Liftoff; Long to 580
Updated
BTG has been downtrending for quite a while now and has completed its 3-3-5 flat ABC correction. The correction also formed a bullish falling wedge, accompanied by falling volume indicating falling selling pressure.
We had a very strong bounce on Dec 7 of the support line of the falling wedge, possibly setting up for wave 3. According to Elliott Wave rules, wave 3 is never the shortest and often the longest. That means we will get a minimal target of $480 with a 1 to 1 Extension. That is a whooping 90% gain! Some more aggressive targets include the 1.272 and the 1.618 Fibonacci Extension, which are $550 and $650, which will more than double your money.
Of course, there is a still the possibility that we haven't finished corrections yet. In that case, we would have another 2 bounces in the falling wedge and form an ABCDE correction. We get a short term conservative target of $265 instead. The long-term targets would still remain similar, only dropping by $20 (which gives us $460, $530, and $630).
We had a very strong bounce on Dec 7 of the support line of the falling wedge, possibly setting up for wave 3. According to Elliott Wave rules, wave 3 is never the shortest and often the longest. That means we will get a minimal target of $480 with a 1 to 1 Extension. That is a whooping 90% gain! Some more aggressive targets include the 1.272 and the 1.618 Fibonacci Extension, which are $550 and $650, which will more than double your money.
Of course, there is a still the possibility that we haven't finished corrections yet. In that case, we would have another 2 bounces in the falling wedge and form an ABCDE correction. We get a short term conservative target of $265 instead. The long-term targets would still remain similar, only dropping by $20 (which gives us $460, $530, and $630).
Note
LIFTOFF TIME!Note
Right now, I think we are heading down the path of possibility one. The timing might wrong, but otherwise it looks good.
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