An Elliot Wave Analysis BTC

The only trend lines that matter are on this chart - I have had these trend-lines on the chart for over 2 months these are the only ones that matter.

No the big question is, have we finished out ABC correction or are we heading to 4800 the next big support zone.

Currently we are either in an ABC correction heading for a final wave down or we have corrected and are heading into the major big wave 3 of BTC's bull run.

Levels to watch out for, we need to break that top resistance trendline and settle anything over 9400 and we could be in out golden zone to go into the next bull run.

However if we get a 1 - 5 count and retrace below that this will be turning into an ABC correction with a final major dump to 4800.

Currently in a long with a stop at 8300.

Good luck on the trades guys and make sure to not draw biased trend-lines.

Comment:

Its also worth to mention, with the way the funding is looking at the moment BTC WILL NOT DUMP - its extremely important to look at the funding level as we approach higher resistance levels to indicate this could be a corrective wave to get retail to buy before the inevitable dump, at this moment its wiser to be a trader than an investor.

If we are heading into the big bull run this will be wave c consisting of nothing but 1 to 5 counts, this would be wave 1 of 1 of 5, big big profits in longs potential however major not to watch the key levels highlighted