Bitcoin – is the correction over?

Hello, everyone!

When we are waiting the next BTC pump? To answer this question let’s take a look at the Elliott Waves structure on the price chart.

I am sure that Wave 3 have been already ended, because the fractal, squad bar, maximum value at Awesome Oscillator and target zone for Wave 3 was reached. Now the price is forming the Wave 4. It looks like that the Wave 4 is the triangle correction, which did not reach the Wave 4 target zone. It is absolutely normal for the Wave 4, thus I am sure that significantly lower the price is not going to drop.

I expect the sideways movement in the Wave 4 some more time. The obligatory condition of Wave 4 end is the Awesome Oscillator and zero line crossover. After that the Wave 5 is going to begin. It’s minimal target is calculated as the 61% of the price difference between Wave 1 start and Wave 3 end, measured from the lower price of Wave 4. Now this target is $81500. I will do the update when the analysis changes.

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