Update on Bitcoin: price prediction for the Elliot cycle and Ichimoku indicator
BTC/USD daily:
- I'm sticking with my Elliot wave prediction: I believe we're returning to the previous high at 7800$ and then retreat to the 0.618 fibonacci retracement, followed by another run towards 10k
- the price found good support at the Tenkan and now a the Kijun and the Fibonacci 0.786 level
- we're currently pressed down by the red cloud
right click & open the image in a new tab for better quality
BTC/USD 1h chart:
- we could be forming a bullish flag and soon have a breakout
- however, the RSI is indicating some sort of a bearish divergence, meaning that a correction may occur soon
- we're currently holding at the Tenkan (blue) and form a nice support in this area
right click & open the image in a new tab for better quality
This really makes a difference!
★ Follow me on: @aezakmi for other useful posts.