Elliot waves are a great way to keep the big picture in mind. Above are three counts that we find most possible. We are still leaning toward the bullish counts. However, if we close below 8.8k and fundamentals give similar bearish trending signs, we would switch to the bearish count on the right.
Are you bullish or bearish? Do you agree or disagree? Share your thoughts and critics in comments!
Are you bullish or bearish? Do you agree or disagree? Share your thoughts and critics in comments!
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We've so far seen lots of discussions around the wave4 correction would drop to the 8k zone. Yes, it's possible. However, with the fundamentals looking bullish and key supports holding, we'd rather see 8k as a "luck entry" (w/ small limit orders) and accumulate on higher dips.
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This is how we tie TA and FA together!
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Wave 4 is still developing. The first two corrective waves are hard to count, but the third one always has a five wave structure. Currently, we need another downward leg to complete the structure. Check out the details below:
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BTC is so far moving as planned. Currently, it's at a critical moment. The 2D RSI needs to move above its MAs for a continued BTC bull trend.
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BTC remains in a bullish trend and we are currently at a level of great risk-reward setup. Bullish scenario 1 remains the most likely wave count.
See the update below from both fundamental and the technical perspectives.
See the update below from both fundamental and the technical perspectives.
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