Elliott Wave Analysis: Calling the low in placed in Bitcoin

Bitcoin ticker symbol: ( BTCUSD ) Short Term Elliott Wave view suggests that the decline from December 17.2017 peak to February 05.2018 low (5920.72) ended the Super Cycle wave “(b)” lower. Above from there, the rally is unfolding as a leading diagonal Elliott Wave structure. Where Intermediate wave (1) ended at 9090.8 high as Elliott Wave Double three structure. Where internals of Intermediate wave (1) ended in Minor wave W at 8648.9 high and Minor wave X at 7543.3 low.

Below from 9090.8 high, the pair ended it’s short-term correction against 2/05 cycle in Intermediate wave (2) low at yesterday’s low 7820. The internals of Intermediate wave (2) unfolded as Elliott Wave Zigzag correction, where Minor wave A ended at 8170.9 and Minor wave B ended at 8589.1 high. Above from there, the pair is expected to resume the upside. However, a break of 9090.8 high remains to be seen to avoid the double correction lower in Intermediate wave (2) dip. Up from 9090.8 low, the rally is unfolding as Zigzag Elliott wave structure. Where Minute wave ((a)) ended in 5 waves at 8992.9 high, below from there, the pair is doing a short-term correction against 7820 low in 3, 7 or 11 swings within Minute wave ((b)) dip. Near-term, while dips remain above 7820 low and more importantly the pivot from 5920.72 low remains intact during the dips pair is expected to resume higher. We don’t like selling it into a proposed pullback.

BTCUSD 1 Hour Elliott Wave Chart

Bitcoin Elliott Wave Analysis

Bitcoin Elliott Wave Analysis


Become a Successful Trader and Master Elliott Wave like a Pro. Start your Free 14 Day Trial at - Elliott Wave Forecast.

FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.