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RE: Bitcoin (BTC) Morning Update: Higher Highs Are Needed!!

in #bitcoin7 years ago

I also agree that we don't reach the bottom of downtrend!
btc01_dec_29.png
The counting of Elliott waves 1-5, abc are ste same as @haejin's but here i think that we are on the begining of 1-5,abc,1-5 pattern in downtrend direction.

Other indicators support this also . Awesome Oscillator is bellow center line, MACD have crossed center line making lower low on average lines.

Price is in Ichimoku cloud and RSI reading is 50 which indicate neutral market but i state that is still possibility for further descend of price.

more you can read in my analysis posts: #20, #21, #22.