$BTC - Elliot Wave was pretty accurate (prediction to $8,500)
The prediction that I made on July 17th of $BTC going to $8,500 (CHECK RELATED IDEAS) was fairly accurate with an exception for the count of wave 4. With wave 4 I expected it to retrace to near the neckline of the Head and Shoulder formation or 0.5 on the fibonacci retracement of wave 3, instead it came down to the resistance labelled as 1st resistance (CHECK RELATED IDEAS) or 0.236.
Where do I see $BTC heading now?
With the Elliot wave count completed and seeing lower highs on RSI with higher highs on price chart only has me feeling bearish. In fact this is a bearish signal but with one more possible push from Bitcoin. From the price range it's moving at now we could see it bounce back up to 8,600 but I'm not expecting it to stay here for long this could be a bull trap with correction waves ABC are to follow.
This is not trading advice. I use these charts as form of education and for fun. Constructive criticism is always welcome
Where do I see $BTC heading now?
With the Elliot wave count completed and seeing lower highs on RSI with higher highs on price chart only has me feeling bearish. In fact this is a bearish signal but with one more possible push from Bitcoin. From the price range it's moving at now we could see it bounce back up to 8,600 but I'm not expecting it to stay here for long this could be a bull trap with correction waves ABC are to follow.
This is not trading advice. I use these charts as form of education and for fun. Constructive criticism is always welcome
