BTC - Upward correction move

BTC has completed it's first ever major downwards move, in a wave of 5 (Elliot wave) A to E or 1 to 5.

What we should expect to happen next is BTC to correct with a move up, W,X,Y composed by two advancing waves and one corrective wave.

A total upward move of 50 per cent on the Fibonacci levels is possible 13998 USD

Keep an eye on the MACD indicator.

Comment:

Looks like we still heading down, the next level is 5K, followed by 2K.

We might be looking at a very long bearish correction - 4 to 6 months.

Comment:

UPDATE - BTC to remain bearish for most of the year, estimating a drop to 5k, and even 2k.

The current corrections will continue as a series of zig zag ABC Elliot wave corrections for months to come.