deniskov
Panjang

BTC LONG - in the long term

BITFINEX:BTCUSD   Bitcoin / Dolar
Comparing highlighted RSI's from previous BTC             corrections, we see that when BTC             corrects, RSI falls but always has a few rises back up before it bottoms out.
Also, corrections like these don't go on for less than two weeks.

From these two observations I believe BTC             should fall a bit more - perhaps 5300 levels - before continuing its rise to 10,000+ by year's end.

The reason I'm not drawing downtrend ABC elliott waves and instead going long with more growth waves is because BTC             is the flagship of crypto and is constantly growing in popularity and market cap.
It's unlikely that people will want to sell BTC             for less than $5000, and with new money flowing in it's bound to keep growing.


TLDR; BTC             should correct a bit further to sub - $6000 levels and then continue its growth to $10,000
Good time to go long in the upcoming days.
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