BTC, september and Elliott waves
We are the 02 of September, in a week end. Where prices often jumps in the side of the downtrend.
This is the firsts days of a month, this alone explain higher prices.
The last peak at 7.2K was the 7th peak. Not a Fibonacci number.
This means, following Elliott principles, that the uptrend isn't finished.
It will continue to the 11th peak to complete a probable [A] wave.
Or it will break at the 8th.
8 & 11 are to be watched carefully.
If succeed to 11, a BTC 4th wave pump at 9-10K would be very probable.
Failing at the 10, could mean a 21 floor Elliott wave, meaning a slower growth of many months.
BTC price is kept « low » by a high dollar. In a situation of a stable dollar, the BTC price should had been one level up.
This is the firsts days of a month, this alone explain higher prices.
The last peak at 7.2K was the 7th peak. Not a Fibonacci number.
This means, following Elliott principles, that the uptrend isn't finished.
It will continue to the 11th peak to complete a probable [A] wave.
Or it will break at the 8th.
8 & 11 are to be watched carefully.
If succeed to 11, a BTC 4th wave pump at 9-10K would be very probable.
Failing at the 10, could mean a 21 floor Elliott wave, meaning a slower growth of many months.
BTC price is kept « low » by a high dollar. In a situation of a stable dollar, the BTC price should had been one level up.
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