#Bitcoin 12h chart update! 10/27/19 10:45 pm EST
It seems at this moment that bitcoin has completed the 3 month corrective price patterns we were monitoring in my updates. The latest dip below 8000 proved to be short lived and terminal, the market was heavily short positioned as is often the case with last legs of a terminal wave. We are now on the lookout for more evidence that a bottom has been found by monitoring the further advances on price, impulsively. I still need a climb above the 11k zone to solidify the low. A 3 wave retracement of this solid rise would be totally natural but i would not want to see the market dip below the 8700 zone by much.
To summarize, the sudden rise in price of the expected support levels is indicative of a major low in the price of bitcoin. If this was indeed a wave 2 low, the next target is 100% equality with distance traveled in wave 1 which should take us at 32,ooo as an initial target.
See my latest video under my ideas to get a sense of I judge the market based on elliot wave analysis.
Also, check my bio for more info on what i do.
To summarize, the sudden rise in price of the expected support levels is indicative of a major low in the price of bitcoin. If this was indeed a wave 2 low, the next target is 100% equality with distance traveled in wave 1 which should take us at 32,ooo as an initial target.
See my latest video under my ideas to get a sense of I judge the market based on elliot wave analysis.
Also, check my bio for more info on what i do.
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I just posted a brand new video on my YT channel. see my profile for info.
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A new video has been posted on my YT channel. see my profile for info/link
