Bitcoin Trading Idea | Next BIG Swing | Elliott Wave (Dec 2020)
Bitcoin Trading | Technical Analysis | Elliott Wave
BTC/USD is displaying an Elliott Wave bullish sequence, which keeps on growing in duration and time.
Because of this, it will be hard to believe that a major bearish leg would be seen, one that would change the destined direction.
BTC/USD - Weekly Chart
BTC/USD (weekly) has been labeled within a Super-Cycle Degree wave (III) (turquoise), mid-point development.
Super-Cycle Wave (II) (turquoise) has reached its bottom during Dec 2018, unleashing the Crypto Bull Market.
Cycle I (black) Structure - Bullish Impulse
Dec 2018 bottoms and up towards June 2019 peaks.
Cycle II (black) Structure - Triple Flat Correction
June 2019 peaks until March 2020 support.
Cycle III (black) Sequence - Bullish Impulse
Break-out and confirmation of a bullish sequence.
Current Position - Intermediate (4) (green)
Consolidation and Point of Interest.
Next expected swing
Bullish Impulse, with a rally in the Intermediate (5) (green).
Levels in focus: $18500.
Targets: $23500-25000.
BTC/USD is displaying an Elliott Wave bullish sequence, which keeps on growing in duration and time.
Because of this, it will be hard to believe that a major bearish leg would be seen, one that would change the destined direction.
BTC/USD - Weekly Chart
BTC/USD (weekly) has been labeled within a Super-Cycle Degree wave (III) (turquoise), mid-point development.
Super-Cycle Wave (II) (turquoise) has reached its bottom during Dec 2018, unleashing the Crypto Bull Market.
Cycle I (black) Structure - Bullish Impulse
Dec 2018 bottoms and up towards June 2019 peaks.
Cycle II (black) Structure - Triple Flat Correction
June 2019 peaks until March 2020 support.
Cycle III (black) Sequence - Bullish Impulse
Break-out and confirmation of a bullish sequence.
Current Position - Intermediate (4) (green)
Consolidation and Point of Interest.
Next expected swing
Bullish Impulse, with a rally in the Intermediate (5) (green).
Levels in focus: $18500.
Targets: $23500-25000.
