Guys, I don^t want to scare you and know that some of you don't believe in Elliot Wave theory. However, if the traders trade accordingly it becomes a reality. Sometimes, we are just to deep in our analysis and must take one step back in order to not to see the wood for the trees. Fact is, everything which goes up must also come down again or retrace according to...
Is seems like a bearish flag is being formed, if confirmed it might us bring down to 5760$ Will this be the bottom?
The next 24-48 hours are very critical for BTC. Will the key 4h support at 6050$ hold? If so, we have formed a W bottom and might rise again.
We might be in the last wave up to confirm a head and shoulder pattern. If we reach 9200$, the pattern is confirmed and we should expect new uptrend: Key support: 8400$ Key resistance: 8800$ and 9200$
The next 24-72 hours will be very critical for BTC. After a 4 month correction period, we are slowly making our way up, currently in the sub-wave C. Will there are also be a wave D and E? Or will we be able to break trough the downtrend key resistance? Key resistance: 9200$ Key support: 8800$