FateTrader

FateTrader

Short term analysis for the next few days. I've updated my count and it looks like a 3-3-5 Flat ABC structure is forming, additionally price is holding strongly above the 0.236 Fib retracement level and thus wave C may not drop as far down as I previously expected. I have 3 consequent buy zones. I expect 0.382 level as highly possible and maybe even 0.5, 0.618...

FateTrader

My price extrapolation based on Elliott wave principle.

FateTrader

In my opinion point B will reach max 0.618 fibonacci retracement but since around fib 0.5 are EMA55 and major resistance level I'm betting on fib 0.5 and then expect it to start falling back down and retest the $6k and in longer time-frame I think it will fall below this level to around $4.4k where a major trend line is. Point C is to be seen it may fall...

FateTrader

My long term Bitcoin scenario.

FateTrader

A possibility, something should happen quite shortly (in hours or day or two), trend should form when green triangle is narrowing.

FateTrader

If everything worked perfectly in cycles, it could be slow on BTC until 2020 with only small spikes in between now and then. This is just a cycle copy from what happened in 2013. But it's also likely that this cycle will be shorter in time as cryptos have picked up the pace in recent years.

FateTrader

In this, one of many possible scenarios, I've counted Elliot Waves and it seems that we're still waiting for the 5th wave down to come and sub waves confirm it. This is one of the reasons, that it got so slow, people are expecting one more down fall to possibly ~8300 area before trend changes.