Hello Fellow Steamians,
Just a quick update On this Bitcoin Chart. Now keep in mind the reason I pay attention to this chart is because every crypto eventually follows bitcoin in it's ups and downs. So when looking for a crypto market reversal just pay attention to bitcoin... the other cryptos will follow if they have any legit value in the market place.
Let's begin
Below is a 15 minute chart and we can see the trendiness I drew in black. I called for a reversal when the price poked thru the smallest black line which was a wave 5 move. Please see previous post for more information
https://steemit.com/cryptocurrency/@sheldonassad/oooooooo-something-is-brewing-in-this-bitcoin-market
Since last night the price is up over 1000 dollars and looks very impulsive. I have no doubt that it will challenge the upper black trend line shortly. I'm also expecting it to rip thru that trend line since I'm labelling this next series of waves... a wave 3. We will see...
Next is just an hour chart to give you a bigger view. When I have some time I will label the this bitcoin market going back to 2012 till now in a series of wave degrees. If you don't understand Elliot wave that is fine, I will do my best to explain it to you. I'm here to help you see that there is a language that every single market uses.
As we see above that the newest rally just surpassed the previous wave 4 in price action. This is very positive. More of this rally to come. That's it for Today. have A wonderful Sunday. I know I am.
this is not investment advice but mere amateur Elliot wave analysis
If this helps you or you like this post please Resteem or upvote... It will be appreciate it. Thank you