Bitcoin Elliott Wave Analysis Looking for Short Term Recovery

Bitcoin Elliott Wave Analysis in the short term is showing an interesting corrective structure suggesting a recover to take place after it finishes the current move.

The digital instrument is correcting the cycle from 03/18 low in 3 waves as a Zigzag structure which reached the 100% – 161.8% Fibonacci extension area $8093 – $7520 from where it’s expected to resume a new cycle to the upside or at least bounce in 3 waves as long as it remain above $7320 low.

If Bitcoin manage to break above 03/23 peak then it will continue the bounce higher toward $9550 – $10080 area correcting the cycle from 02/20 peak before another pullback can be seen. In case the short term bounce fail and BTC breaks below $7320 low, then it will open an extension lower toward $6600 – $6000 area.

Bitcoin Elliott Wave views can be used for trading purpose if certain conditions are met which we do provide for our clients. Moreover, the blue box areas in our charts are a high frequency areas where the Markets are likely to end cycles and make a turn. Consequently, BTC most likely will react from current levels.

We provide regular updated charts everyday for Bitcoin and we do also cover it during our live analysis session in Group 3 which you can get access either using our 14 days Free Trial or the current special 30% discount during the Spring Sale period for any monthly plan of your choice. You will get access to our 78 instruments updated in 4 different time frames, Live Trading & Analysis Session done by our Expert Analysts every day, 24-hour chat room support and much more.

Abdul Khan has been a licensed advisor in financial markets for nearly 15 years and throughout his career has advised some of Australia’s largest private investors and many internationally renowned financial institutions.   Abdul specialises in trading the Forex, derivatives and equities markets and has fulfilled managerial roles on both the European and New York desks. As a result of this specific experience he understands the inner... More