The price of bitcoin has made a new low and we are approaching the 7500 levels. The script is unfolding for now according to the proposed structure and we are on the lookout for signs of a completed corrective pattern. The area between 7500 and 6500 is layered with multiple fib, trendlines and previous price support from may/june, so it should constitute a battle zone going forward. I am looking for price reaction into this zone and for further indications of a low. Remember from an analytical perspective is a bit easier to point these levels, but from a trading aspect one has to be very careful in not picking lows but rather wait for the market to confirm we have reached one. Things always take longer then what we think, but the market will be quite explicit once an impulse is starting. Is not as clear with bottoms as sometimes it is with tops, but you can let other people be eager to get it in and test the waters first. There will be plenty of time to join the up move with clearly defined risk levels.
Along with the 5 basic Elliot Wave patterns comes the relationships between them thru the Fibonacci numbers.
I talk about all this in the new video youtu.be/rCWrJ664K3c
For more detailed charts, discussions and Elliot Wave learning , visit us at
t.me/cowboycryptomarkets
t.me/cowboycryptomarketsroom
Along with the 5 basic Elliot Wave patterns comes the relationships between them thru the Fibonacci numbers.
I talk about all this in the new video youtu.be/rCWrJ664K3c
For more detailed charts, discussions and Elliot Wave learning , visit us at
t.me/cowboycryptomarkets
t.me/cowboycryptomarketsroom
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Video posted today on you tube as well at youtu.be/rbTmY-nS9so
t.me/cowboycryptomarketsroom