EW Analysis Analysis – BITCOIN – Floor acrobatics

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Bitcoin BTC / USD

Elliott Wave Analysis

A couple of frosty weeks were expected in the cryptocurrency BitCoin. From a technical point of view, the corrective wave can be continued 4 on.

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In the bearish mantle would be a wave (c) the wave 4 as the Ending Diagonal Triangle (EDT) 1-2-3-4-5 the more bullish impulse variant. In that case, the peak of the wave would be later 4 low point of the wave 1 to cut. Preferably, BitCoin only temporarily dives below the 30,000.00 psycho mark. In the years 2018 and 2020, we succeeded in spectacular floor acrobatics with Elliott Wave Theory and Cryptonator. A challenging time lies ahead of us.

Conclusion:

The target of USD 75436 is still achievable. Previous correction declines of 23486 or 17369 points do not deny goal achievement.

André Tiedje – Elliott Wave Expert, technical analyst and trader at GodmodeTrader.de

I wish you every success in your decisions and do not get in trouble, this inevitably leads to wrong decisions.

The price is run in the weekly diagram (display of log diagram / 1 light = 1 week)

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Disclosure of potential conflicts of interest: The author is invested in the securities or base values ​​discussed at the time of publication of this analysis.

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