16.05.2018
Ascending impulse configuration consisting from five waves has been formed after an April's breakout of a 256-day descending trendline( red) . Now we are seing that price of bitcoin has formed an ascending trend line after finding a support level on a 50-day moving average. Now I will tell you why we should get bullish at the nearest time/
Now on a 1-hour time frame I see that within the last 4 days price has formed a five wave wedge that is the first wave before the powerful third which the most powerful wave (Elliot wave theory). It would be a younger third wave of a an elder third wave, it is a nuclear combination which would throw us above 200-day moving average.
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