Elliot Wave Analysis of the BTC chart looks bullish.
I'm guessing this triangle wave is part of a complex correction in wave 2, and so, we need one more leg down (about 4%) before a strong wave 3 up above the channel.
I'm guessing this triangle wave is part of a complex correction in wave 2, and so, we need one more leg down (about 4%) before a strong wave 3 up above the channel.
Comment:
Wave 3 = Wave 1 in length, approximately. Thus Wave 5 cannot be expected to extend. A maximum expected rise for this impulsive structure is probably near the $18k/btc area, if corrective waves rise higher than the top of W5.5.
Comment:
Prob. got a truncated wave 5.