Thursday's Elliott Wave Analysis For BTC/USD
Mehrad Paydar | Jan 18, 2018 06:33AM ET
Sharp decline of Crypto-currencies, especially Bitcoin, in the past two days has created a lot of concern among market participants as some believe that Bitcoin's death has come......... but according to Elliott wave analysis, recent fall was completely normal and predictable, and only released news expanded its multiplication. According to elliott wave counting, bitcoin completed wave 3 @ 20,000 and is creating correction wave 4 that can continue to 7500-8800 area which can anticipate a new rally will start in medium term from there in order to complete wave 5. (Recommendation: Given that the acceleration and large sell pressure
in short term, buy position must be accompanied by trigger and divergence)
Last week:
Bitcoin mid-term technical analysis:
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