Bitcoin Dollar Descending wedge Breakout 28th Feb 2018

in #bitcoin2 years ago

A look at Bitcoin performance from mid November 2017 till date.
Bitcoin rallied from around $6000 range in mid November 2017, good luck to those who bought at that price and held till it went straight up and sold at $19,000 on mid December 2017.
It then when through a correction phase from $19000 to $6900 the last deepest dip before a bounce to $11000 to start first Elliot wave and then retraced from $11000 to $9000 to form wave 2. Wave 3 is about to commence with a breakout and in most cases, Wave 3 is usually the longest of the 5 wave theory.

I believe this is a good and final buy opportunity so as not to miss out in the upcoming rally. BTC is at the breakout point form the wedge and buy before $11000 is recommended.

Good luck and happy trading as we anticipate on a moon shot to $19000 again. that feeling of Euphoria. Haha!!!


Fig1. BTC/USD

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Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d
BTCBitcoin10454.800$-4.14%-2.42%
BTSBitShares0.224$0.57%-2.87%
ETHEthereum861.153$-2.38%0.87%
LTCLitecoin203.083$-6.86%-5.55%