On Discussion with Bitcoin & Elliot

Jay says that we're reaching Fibonacci levels in the market where there will be a big bounce from 8k to 10k. There is some reasoning to this justified by the Elliot Wave Principle. He seems to be excited to make this buy play in either bearish or bullish scenario because there is a divergence with a bullish 3rd wave or a bearish C wave. Either scenario will place the market in a temporary bull market.

The 8k level will provide a lot of resistance towards the upside and may be a good textbook play for some minor short term profits. I'm waiting for a bottom tonight.