Bitcoin long term analysis.
You can see my whole setup from the all time high. It might be too chaotic and messy to see, sorry for that. But if you know Elliot wave count, I do not think there will be a problem.
After the all time high I suppose WXYXZ full correction happened. Before finishing the Z wave $6100 area was holding the price very long time, but when it break the support with triangle correction patter it made a huge dump to $3200. For me, Bitcoin finished its WXYXZ correction on $3200.
Recently it broke the resistance line and huge spike has occured. I see it as impulsive wave and need a decent correction to enter long position. It might be the start of the next huge movement, but need the break $6100 area, previous support, as confirmation.
You can see my whole setup from the all time high. It might be too chaotic and messy to see, sorry for that. But if you know Elliot wave count, I do not think there will be a problem.
After the all time high I suppose WXYXZ full correction happened. Before finishing the Z wave $6100 area was holding the price very long time, but when it break the support with triangle correction patter it made a huge dump to $3200. For me, Bitcoin finished its WXYXZ correction on $3200.
Recently it broke the resistance line and huge spike has occured. I see it as impulsive wave and need a decent correction to enter long position. It might be the start of the next huge movement, but need the break $6100 area, previous support, as confirmation.