BTC Another Low is Possible

10 Şub 2018

Bitcoin might have just completed an ABC correction in the form of a rising wedge. Wave A is a leading diagonal in the shape of a rising wedge, so subwaves 4 and 1 can overlap. Wave C seems to be truncated and is a 0.5 Extension of Wave A.
The RSI is showing strong resistance at 70 and the MACD is showing bearish divergence on the histogram.

The alternate wave count is that Bitcoin have just started wave 3. Wave C is the first subwave of wave 3.

11 Şub 2018

Not

Another possibility

11 Şub 2018

Not

That means we have to take Elliott Wave analysis with a grain of salt since Elliott Wave Theory is based on crowd sentiment and not whale or individual sentiment.

12 Şub 2018

Not

steemit.com/bitcoin/@philakonecrypto/lesson-20-advanced-elliot-wave-wxy-with-feb-11-technical-analysis
steemit.com/btc/@ew-and-patterns/btc-update-11-02-18

Check out what some other analysts say.

13 Şub 2018

Not

Another possibility... If the price breaks the upper resistance line, this count is invalid.

Possible plays to make