Bitcoin -- Elliott Wave Forecast

There is an increasingly high likelihood the sell-off in Bitcoin is complete. This sell-off marks the end of corrective wave 2. What should follow is a strong surge higher as wave 3 begins to unfold.

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Bitcoin may be undergoing a complex correction where wave x is taking the shape of a triangle. If this is the case, then we need to look out for a break lower out of the bottom trendline of the triangle. This should result in a swift and sudden decline... BUT this decline will mark the END of the correction.

Bottom line, the bigger trend is pointed firmly upwards.

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The bearish triangle scenario has been eliminated. The bullish scenario remains on favoured footing.