Bitcoin has made a clear Elliott five wave impulse up from the bottom with good volume. We are changing trend. At this point it is not yet clear if we are heading for new alltime highs, or if this is the start of a correction within the larger downtrend, but, by definition, an impulse is always followed by another impulse, with a correction in between (this is the absolute minimum move to be expected, a so-called zigzag).
Assuming my count is correct, we should expect a correction, ideally into the green price area, and there is a support level around 7900, after which we should move up in an impulsive fashion, normally a move of approximately the same size which is 2500 points from the low of the coming correction.
I can only be bullish.
And it's not just bitcoin. Let's have a look at the altcoins.
First, the big ones:
Ethereum
Ethereum classic
Note by the way that ethereum classic might outperform ethereum in the the future
Bitcoin cash
Dash
EOS
IOTA
Monero
Some smaller coins:
Bitbay
Blocktriggers
Burst
Byteball
Einsteinium
ETP
Funfair
Groestlcoin
INS Ecosystem
Melon
Navcoin
Populous
Power Ledger
Salt
Santiment
Substratum
Vechain
In many examples, if you imagine a correction into the green Fibonacci retracement level, you can see a larger head & shoulder reversed pattern forming.
We'll have to wait and see how bullish it's going to get.
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