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RE: Bitcoin update 20.Mar, BTC on the move to nowhere?
Your analysis is similar to my expectations on bitcoin price. I think it is quite possible we go lower after we hit the 9K area. But if we breach the 9K decisively, we are probably in wave 3 and this will mean a new bull cycle has just started. Just my 2 cents :)
Yes we are in wave 3 unless we get a lower low, then this is just a continuation of wave 2 in Elliot terms.
I'll try to keep a chart with the main wave on hereafter :)
I think the blue line can give good support but breaking the green would give another lower low.
Going out of the green top line and we'll moon.