@lordoftruth sir....
The Bitcoin Elliott Wave forecast suggests that the bearish patterns are dominating so long as Bitcoin prices remain below $14,000.
Bitcoin Elliott Wave Analysis Talking Points:
Bitcoin prices have been contained inside a downward sloping price channel
Recovery from January 17 to January 20 takes the shape of a corrective zigzag pattern...
Pressure remains to the downside so long as prices remain below the upper channel line
Bitcoin prices are falling within a downward price channel. It is possible this downward wave since December 17 is a bearish zigzag and the first wave of a larger correction or perhaps the beginning of a larger bearish impulse. As I contemplate the potential for bullish patterns, the models return results that are temporary and short lived. As a result, this cryptocurrency is operating in a sell the rally environment until we see a bullish motive wave develop.
BITCOIN PRICE CHARTS OFFER CORRECTIVE RALLIES..
The Bitcoin price rally that began on January 17 appears to be a three-wave rally. According to the Elliott Wave principle, three wave moves are corrective and tend to be completely retraced. Therefore, the January 17 – 20 rally raises the probability that Bitcoin prices may continue to be pressured to the downside.
Though the January 17-20 trend appears to be a corrective rally, Bitcoin prices can continue to increase to extend the correction in price and time....
Thanks sir...