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Bitcoin Elliott Wave Analysis Looking for Short Term Recovery

Currencies / Bitcoin Mar 28, 2018 - 02:05 PM GMT

By: ElliottWave-Forecast

Currencies

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.


Bitcoin Elliott Wave 1H Chart 03.27.2018

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.

By Ayoub Ben Rejeb

https://elliottwave-forecast.com

ElliottWave-Forecast has built its reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 78 instruments including Forex, Commodities, Indices and a number of Stocks & ETFs from around the World. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Live Screen Sharing Sessions, Daily Technical Videos, Elliott Wave Setup and Weekend videos .

Copyright © 2018 ElliottWave-Forecast - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


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