Bitcoin: Is this the bottom?
Bitcoin's prior analysis
https://steemit.com/steemit/@luiggih/bitcoin-looking-ready-for-wave-5
Today's update
Bitcoin has gone till the 1.618 projection.
Still could be a complex wave 4.
Key levels spotted.
Bullish divergence in RSI
If this was still 4, wouldn’t it overlap with 1?
To maintain a bullish count I thought this would have to be 2, with your 3 being a 5 (of 1). If so then it hit the 0.786 retracement of the entire move perfectly.
There is one exception to overlapping: when it is a wedge.
Also as I said in my other posts, your count is also valid.
If we're on wave 2, I would expect a full retracement.
At the end, I was not that wrong when I was expecting a triple bottom!
Thanks for your quality comment!