BITCOIN #BTCUSD - end of the correction? New highs ahead?

7 thg 2, 2018

The current correction is the biggest in the entire Bitcoin history (arithmetic graph) and has already reached 71%.
On the other hand, the rate managed to rebound from the blue trend line just above the target level at $ 5,540. The $ 300 was missing so that the price hit the Fibo cluster.

From the Elliott wave theory perspective, the price tests the bottom trend line (gold) and tries to break above it. The $ 5,962 level is now the most important technical support, with the support of $ 7,213 remaining. The next resistance tested is $ 8,160. Beating over this resistance can cause a gunfire towards very important levels at $ 9,222 - $ 9,515. Only breaking above these levels opens the way for further growth.

8 thg 2, 2018

Ghi chú

Demand weakens a little, but still a room to go up. Keep an eye on the red trend line (short-term)

12 thg 2, 2018

Ghi chú

All the recent up move is corrective in nature. The next target is at the level of $9,515 ant this is the key level for bulls.
Second wave (X) of a higher degree is in progress now.

13 thg 2, 2018

Ghi chú

Still waiting. All the levels are applicable.

14 thg 2, 2018

Ghi chú

Patience is a virtue.

14 thg 2, 2018

Ghi chú

BTCUSD is about to hit the target

14 thg 2, 2018

Ghi chú

Target: $9,515. Mentioned this level many times.

15 thg 2, 2018

Ghi chú

#Bitcoin #BTCUSD
Currently, the most important resistance zone is the area between $ 10,000 - $ 10,557. In this area, I expect a price reaction in the form of a backwater or even a reversal of the upward trend.
The alternative scenario assumes, of course, a long-term hole at the level of $ 5,830 and the current upward movement will be treated as the beginning of a new impulsive wave of growth. The problem is that at smaller intervals of this impulse you do not see too much, too many TFE rules are annulled.
The order for closed increases, so far observation.

16 thg 2, 2018

Ghi chú

So far - so good. Resistance zone hit.