BTC Bitcoin Analysis of the day: Can we scape the funnel?
Disclaimer: I have BTC and other alt crypto currencies.
So for our analysis of the day. BTC is following an usual elliot wave patter(with some adjustments).
Click on this link for full screen, Trading View.
You can clearly see that the wave pattern is being followed and the ABC branch will go up to 10750(a bit more i believe) and conclude around 10,350 by 9 PM EST. Now moving on to the bigger picture. We can obviously see an inverse head and shoulders pattern forming. If we can get out of this head and shoulders pattern then we can finally say bye to the bear market. Now the fact that we get out of downtrend doesn't mean it's going up. That is still to be tested. What we can watch as a sign of recovery is the return to above 12k and retention for a couple of days.
Click on this link for full screen, Trading View.
Please feel free to share any other ideas or discuss them in the comments.
This is pretty accurate. Prices hit the targets that we put. Please check price and time and you will see it comes very close.