@haejin
is it also the possibility of a Bearish Flag??
RE: Bitcoin (BTC) Morning Update: Higher Highs Are Needed!!
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Bitcoin (BTC) Morning Update: Higher Highs Are Needed!!
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I also agree that we don't reach the bottom of downtrend!
The counting of Elliott waves 1-5, abc are ste same as @haejin's but here i think that we are on the begining of 1-5,abc,1-5 pattern in downtrend direction.
Other indicators support this also . Awesome Oscillator is bellow center line, MACD have crossed center line making lower low on average lines.
Price is in Ichimoku cloud and RSI reading is 50 which indicate neutral market but i state that is still possibility for further descend of price.
more you can read in my analysis posts: #20, #21, #22.
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Yes, there are two possible path to the moon I think. If it goes down to 12, 10 or even 8k$ BTFD !!!! Daily MACD bother me a bit, but I'm no expert analyst so ... better have some cash to buy if it drops and hodl a huge part of portfolio.
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