Hello Traders.
This is my attempt to analayze the Bitcoin movement in the mid-term using Elliot Wave Theory.
Last month was the worst January for Crypto and we are looking for a recovery now.
I assume we finished the leg C (Blue) from the running flat and formed a mjor bottom at $32900.
After that the first wave from the bigger 5th wave (Orange Circle) is evolving right now unless our major mentioed bottom is broken.
It's too early to decide weather this correction is running flat, expanded flat or even a triangle. I will follow up and update counting if necessary in the future.
ATH breackout is still highly probable IMO.
If like my idea please LIKE and SHARE. Also your comments are very helpful.
Thanks and good luck.
This is my attempt to analayze the Bitcoin movement in the mid-term using Elliot Wave Theory.
Last month was the worst January for Crypto and we are looking for a recovery now.
I assume we finished the leg C (Blue) from the running flat and formed a mjor bottom at $32900.
After that the first wave from the bigger 5th wave (Orange Circle) is evolving right now unless our major mentioed bottom is broken.
It's too early to decide weather this correction is running flat, expanded flat or even a triangle. I will follow up and update counting if necessary in the future.
ATH breackout is still highly probable IMO.
If like my idea please LIKE and SHARE. Also your comments are very helpful.
Thanks and good luck.