For the last couple of days, Bitcoin has been bearish which has led to a new pattern, the falling wedge reversal which we have already experienced since the recent upward trend. So we should see Bitcoin playing inside the descending triangle after which the next bull flag should stop when intersecting with impulse 3. So I am staying bullish for now and lets see if it follows the pattern.
Some indicators suggesting this is the next breakout:
-STOCH RSI- SHOWS UP
-Elliot Wave Oscillator- the red wave seems to be over and ready to flip to green waves, and also it is possible to recognize that every red Elliot Wave we see now seems to be smaller than the previous ones, which suggests a green flag for the bulls!
-MACD COMPRESSION: if to look at the general trend of Bitcoin we can see that MACD Upward cross is at higher and higher levels, suggesting that MACD Downward crosses are not as strong as before, and Upward crosses are stronger and MACD makes lower bottoms. Also if to draw a line for the lower bottoms of MACD from the day the correction it suggest an MACD Bullish divergence and if to follow this trend line it seems that MACD lower bottoms next time will even be above the 0 line which suggests a bull run being coming really soon...
Some indicators suggesting this is the next breakout:
-STOCH RSI- SHOWS UP
-Elliot Wave Oscillator- the red wave seems to be over and ready to flip to green waves, and also it is possible to recognize that every red Elliot Wave we see now seems to be smaller than the previous ones, which suggests a green flag for the bulls!
-MACD COMPRESSION: if to look at the general trend of Bitcoin we can see that MACD Upward cross is at higher and higher levels, suggesting that MACD Downward crosses are not as strong as before, and Upward crosses are stronger and MACD makes lower bottoms. Also if to draw a line for the lower bottoms of MACD from the day the correction it suggest an MACD Bullish divergence and if to follow this trend line it seems that MACD lower bottoms next time will even be above the 0 line which suggests a bull run being coming really soon...