Deep Dive into Bitcoin’s Elliott Wave Count
Mục lục bài viết
Bottomline
Bitcoin fell a bit short of our ideal target zone of $27-28K by topping, so far, at $25.3K. Hence, although one can make many correct forecasts using the EWP, nobody can foresee everything exactly all the time. That is why all we can do is “anticipate, monitor, and adjust if necessary.” We anticipated $27-28K for weeks, knowing Resistance was at around $25.5K. We monitored and found BTC did not break above Resistance, and as such, we adjusted our primary expectations.
If the Bulls can hold the price of BTC above the February low at $21.4K, with a first warning below the past weekend’s low at $22.8K, and rally it above the February high at $25.3K, with a first warning for the Bears above $24.8K, then $30K can be attained. Any break below these critical lows triggers a setup to as low as $19+/-1K.
