Hi guys was doing some personal analysis and decided to share as BTS 0.00% is behaving strangely at the moment. The weekly chart looks great we have definitely reached a bottom and are still in a clear uptrend and can see plainly the nice wave 1 rally. The wave 2 correction as ABC looks like it not done just yet however. Wave C must always have 5 waves down which at the time of writing the current wave C hasn't formed 5 clear waves that do not break Elliot wave rules (I have tried many cases). I also find it hard to believe we are getting a running flat (wave C shorter than wave A) in a bear market as well as taking into account BTS 0.00% had one of the weakest bounces I have seen from BTC's 6k dip. So for me my primary count is further downside which I have drawn for you.
1D INDICATORS
RSI: Looks to have formed bottom MACD: More room to go down
BUY ZONE AND TARGETS
Buy zone: Anywhere between 1800-2500 sats -2.57% . Targets Mid term: 4500, 6000 sats -2.57% . Targets Long term: 12000 sats -2.57% Targets Very long term: 18000 sats -2.57% (new ATH -0.47% +1000%!!!)
This is a very long term trade so do not expect the annoying moon anytime soon.
*Not financial advice*
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Buy zone approaching
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Hi guys we hit the buy zone perfectly and got a small bounce which will be wave 4 so remember we will likely go down a little more for wave 5 before we hopefully resume an uptrend. It may take a while but we should get solid gains medium term.
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Hey guys we bounced right off the 0.786 fib, nothing to be excited about yet but its a very good sign happy trading.
bts will be a very long game to test patience . than we gonna see a spike all the time up
HyperionAllied
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@almiftahdz, Thinking the same thing might trade sideways for a while after we hit the end of wave c, whales likely accumulating.
je443
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I agree on your long term vision! BTS does seem to be consolidating and finding it's true support but when it does, it could retest ALTs for sure.
HyperionAllied
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Thankyou for the comment, we may go sideways for a while but when we get out wave 3 i believe all time high is on the cards :)
kdenery
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Could we maybe see your green elliot wave on a smaller time fame chart As of this view i have trouble agreeing with you regarding points I and II
thanks