Bitcoin has become a great long opportunity in recent weeks.
On the weekly chart, there has been a keltner squeeze where the keltner channels are completely inside the Donchian channels, this squeeze is the first bullish sign in this accumulation zone.
The Elliot correction wave has also concluded with a nice C point at the low of this accumulation zone with a very high volume candle. The stochastic has also re-entered after a period of being oversold, another bullish signal.
The Elliot wave concluded within a previous high volume zone and we are now waiting for the impulse wave to start with a strong up move from this area.
On the weekly chart, there has been a keltner squeeze where the keltner channels are completely inside the Donchian channels, this squeeze is the first bullish sign in this accumulation zone.
The Elliot correction wave has also concluded with a nice C point at the low of this accumulation zone with a very high volume candle. The stochastic has also re-entered after a period of being oversold, another bullish signal.
The Elliot wave concluded within a previous high volume zone and we are now waiting for the impulse wave to start with a strong up move from this area.