RealJayJobes

BTC May Be Done Going Down

COINBASE:BTCUSD   Bitcoin
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


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