Bitcoin - Elliott wave count to the bottom
In this 4-hour chart I consider the Elliott Wave count and what this might mean for the current posture and ultimate low. I also point out a prior line of resistance is as yet unconfirmed support and the break above the neckline hasn't manifested in bullish confidence or volumes.
In doing so I feel I might have answered the question I posed in the last post, identifying that the iH&S reversal pattern is more likely a fake-out than a break-out.
What do you think? Are we now entering a final wave 5 of the impulse lower, or is my count wrong, support lined don't need confirmation, volume on bullish indicators is insignificant, and BTC is now unstoppable?
In doing so I feel I might have answered the question I posed in the last post, identifying that the iH&S reversal pattern is more likely a fake-out than a break-out.
What do you think? Are we now entering a final wave 5 of the impulse lower, or is my count wrong, support lined don't need confirmation, volume on bullish indicators is insignificant, and BTC is now unstoppable?
