Last time I did the article about Bitcoin analysis, I told that the bearish movement was anticipated, when the price was $65000. If you executed short trade you are in profit now. Today I want to warn you that the bearish move is almost finished. now it’s time to find the entry point for long positions.
Approximately one month ago I did the analysis, where said that the impulse Wave 3 was finished an the Wave 4 is anticipated. I calculated the target price and even time when the Wave 4 ends before the new impulse wave to the upside. Now the price is approaching this area!
In another article I supposed that Wave 4 is going to be A-B-C-D-E triangle correction, but made a mistake. The Wave 4 is forming as incorrect A-B-C correction. Wave C is almost finished, the end of this wave is the best place for long trades. In 1-2 weeks we will see the last Wave 5 of this Elliott cycle. Be patient!
Bitcoin – correction is almost over!