Here is a scribble of my work on Bitcoin using Elliott Waves. Although I'm not a big fan of trading using this theory as its built using many assumptions which usually fails. However, it's sometimes fun to use it and see the market from different perspectives.
I don't want to be very optimistic, but based on the information and what the chart is telling me, $12,800-$13,000 should be an easy one!
Nice chart Abdulla.
We might be forming a sort of shy double top right now, let's be careful.
abdullatrader
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@Giorgioversace, Its good to take caution, but don't focus on where the top is. Let the ship do what it wants to do unless it gives us a reversal signal. For now, enjoy the bullish wave!
Giovi6969
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@AAlFadhala,
Yep correctus!
I am not even day trading, i'm holding some coins since 4 days, which is a rare thing for me lol.
tofulijodihib
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good trade, but you could do more :) Thank you
Foxace36
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I personally think this is a flat style correction, and we are still in the process of completing Wave B
RyanPal
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Since it has probably double topped, i don't think the wave (iv) is complete.
I see is as another flat corrective with C wave to come.
abdullatrader
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@RyanPal, I agree, we still don't know if Wave 4 is complete or we are expecting a C wave before the next bullish move.
We might be forming a sort of shy double top right now, let's be careful.