Bitcoin & The Elliott Wave Theory
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This analysis considers time frames and market movements for Bitcoin from Nov 2013 until today.
It is the view of many that we are simply in a correction of a new Bull market that began in Dec 2018 however typically short term corrections to a strong bull market happen swiftly and end with a distinct turn around. Not what we are witnessing today.
I expect part C of the current correction to last a minimum of 9 months placing it somewhere in the vicinity of March-April-May 2020 before the start of the next bull market.
I am not a professional analysis, financial advisor, or investment counselor. This chart is for your consideration and represents what I see happening with Bitcoin, IMHO.
It is the view of many that we are simply in a correction of a new Bull market that began in Dec 2018 however typically short term corrections to a strong bull market happen swiftly and end with a distinct turn around. Not what we are witnessing today.
I expect part C of the current correction to last a minimum of 9 months placing it somewhere in the vicinity of March-April-May 2020 before the start of the next bull market.
I am not a professional analysis, financial advisor, or investment counselor. This chart is for your consideration and represents what I see happening with Bitcoin, IMHO.
Nota
Feb left us with that great Gravestone Doli on the Monthly and I hope everyone will be there for the next move in Bitcoin. Will it go up? Will it go down. It's exhilarating to see the coming conclusion of this correction leg on our Elliott Wave Understanding. I hope you have ask yourself when you look at this updated chart, over the last 3 weeks are we heading toward the moon or towards that big "?" where we left it last September.New Updates soon to come!
Penafian
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