Bitcoin (BTC) Update: Does Elliott Impulse started?
BTC price rebounded from $ 8400 points. I had expected a similar decline in the last posting 'Ongoing Flat correction', but actually it was steeper and stronger than I thought (the price plunge of altcoins).
I observed ‘truncation’ in the red box shown on the chart. This means a change of trend, and the possibility of starting a new elliott impulse. So I think the elliott impulse has begun and suggest the chart above.
In this chart, BTC rises as supported by a long-term downtrend indicated by a red dotted line. The goal of this price trip is about $ 12000, and will have a correction when the price reached this point. After the correction, BTC will resume the price trip to about $ 14000.
I observed ‘truncation’ in the red box shown on the chart. This means a change of trend, and the possibility of starting a new elliott impulse. So I think the elliott impulse has begun and suggest the chart above.
In this chart, BTC rises as supported by a long-term downtrend indicated by a red dotted line. The goal of this price trip is about $ 12000, and will have a correction when the price reached this point. After the correction, BTC will resume the price trip to about $ 14000.
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