Here my daily update on BTC.
Basically nothing has changed since my morning post. But as it was just a quick update so here some more facts..
I point out a possible yellow triangle. Its only a possibility as we not have yet enough points to confirm the support line. The ongoing correction may continue a little longer which will move the line a little. But the meaning and direction will be the same. But the resistance has enough points to be legit.
We are just below the black resistance, but we didnt see much of a drop to be concerned. Checking the long and short it tells the same story. The longs has even be gaining a little. Short at 35,86% vs longs at 64,14%. Very stable and positive sign that we going to move a little further and break through resistance.
In the longer term chart below i want to point out the terminal end of this move and the bigger wedge coming close.
We did the bigger moves in the black wave more less exactly due toElliot wave rules combined with fibonacci levels, and if you go back in my charts you will see that the levels of the black wave didn't moved at all. Only time wise we have been faster as expected in the beginning.. Now i still expect wave 5 to be same long as wave 1 and the new wedge seams to be confirming my assumption. BUT its absolutely possible that we going to see a longer wave 5 as well. Nothing is impossible! What i present here is just my personal opinion, based on my analysis. You may have better data :-) On the other hand, conservative players who want to make sure to be able to sell, may put the sell orders a little lower as the calculated fib level ;-)
I hope you find this information useful in addition to your own research and analysis! And if you like what you get here please give me a vote up! Thank you!
If you are interested in algorithm trend forecast and in deep analysis visit my colleges at
http://www.mariuslandman.com/ and get a premium membership or join our free Telegram group at https://t.me/MariusLandmanPublic
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
