On the chart, we see that the cycle has functioned well. Under this bitcoin cycle, it will be in the downtrend for a while and then in a stationary phase.
Since the previous bullish trend has been around for 700 days and its downtrend has been around 400 days, this time the bullish trend has taken 1000 days, so the downtrend will probably last longer than last time.
If we look at the Elliot wave from the perspective of the Elliott wave, we still have to wait until the bitcoin downturn is over. Of course, the goal of the broken triangle is approximately equal to the roof of the wave 1. (1200)
Elliott's bullish wave is FAILED when BTC breaks $ 1,000.
From the perspective of the FIBO LEVELS, the 5000 is a very strong support, which is quite visible in OBV(NOT SHOWN IN THIS CHART) and is almost equal to 78% Fibonacci.
In the end, I must point out that cycles can always change IN MATTER OF FUNDAMENTAL PERSPECTIVE.
評論:
still on play if double bottom fail.
評論:
going on long term target.
