Ticker:
BTCUSD
Timeframe: 15min/2 weeks
1- RSI is overbought more so than most the time in the past two weeks and looks to be ticking down.
2- MACD is higher than it's been the majority of the past two weeks.
3- If the elliot wave analysis is correct BTC is ready to move from a wave 3 to a wave 4 in time with the MACD and RSI cool off.
4- If the elliot wave analysis is correct the only thing I can compare to is the last wave (5), and it's wave 3 to 4 retracement to the .382 level.
6- Finally, using the last wave as reference wave 5 only just got out of the wave 3 territory leaving wave 5 to end up at around $9200.
Short Term: Slightly Bearish
Mid Term: Neutral/Impatient Bull
Long Term: Bullish
Market Sentiment: Impatiently Bullish
BTCUSD
Timeframe: 15min/2 weeks
1- RSI is overbought more so than most the time in the past two weeks and looks to be ticking down.
2- MACD is higher than it's been the majority of the past two weeks.
3- If the elliot wave analysis is correct BTC is ready to move from a wave 3 to a wave 4 in time with the MACD and RSI cool off.
4- If the elliot wave analysis is correct the only thing I can compare to is the last wave (5), and it's wave 3 to 4 retracement to the .382 level.
6- Finally, using the last wave as reference wave 5 only just got out of the wave 3 territory leaving wave 5 to end up at around $9200.
Short Term: Slightly Bearish
Mid Term: Neutral/Impatient Bull
Long Term: Bullish
Market Sentiment: Impatiently Bullish
