I'm not quite sure about where the market is going next. I'm more or less trying to sum up my impression of the possible route for BTC so far.
I tried an alternate Elliott count (consisting of a Double Three in the W wave, Expanded Flat in the X wave and a tentative Y wave) compared to the Triple Three I used before. I've also identified potential fractals which might give us a pump (to approximately $8,000-$8500) before dump to $5,500-$6,000. Both fractals have a bullish divergence identified on the RSI.
I don't believe this is the start of a bull market but merely another cog in the bear market before a complete correction. Highly likely I could be dead wrong. I'd love to hear feedback based on your long term analysis.
P.S. I'd also love if you could recommend a book for me to learn Gann Analysis.
I tried an alternate Elliott count (consisting of a Double Three in the W wave, Expanded Flat in the X wave and a tentative Y wave) compared to the Triple Three I used before. I've also identified potential fractals which might give us a pump (to approximately $8,000-$8500) before dump to $5,500-$6,000. Both fractals have a bullish divergence identified on the RSI.
I don't believe this is the start of a bull market but merely another cog in the bear market before a complete correction. Highly likely I could be dead wrong. I'd love to hear feedback based on your long term analysis.
P.S. I'd also love if you could recommend a book for me to learn Gann Analysis.
Hidden divergence might also mean the downtrend is continuing since it looks like wave X of Y is finishing up.