BITCOIN ELLIOTT WAVE DONE ON WEEKLY
Bitcoin likely has finished it's bearish stage.
MACD and RSI signal the beginning of an uptrend.
At this stage, if it goes above 270, it will cross the 200 day exponential moving average.
If it breaks below 200$, this time will signal a new bearish phase, bitcoin possibly going below 100$, to a target of either 65 or 50$.
The only things that would make bitcoin price go up would be gemini exchange and bitcoin ETF launch, and also very high volatility in the markets, similar to what happened when people got into bitcoin in september 2013 due to lack of trust in banks/cyprus,etc, so GREXIT could be positive for bitcoin.
MACD and RSI signal the beginning of an uptrend.
At this stage, if it goes above 270, it will cross the 200 day exponential moving average.
If it breaks below 200$, this time will signal a new bearish phase, bitcoin possibly going below 100$, to a target of either 65 or 50$.
The only things that would make bitcoin price go up would be gemini exchange and bitcoin ETF launch, and also very high volatility in the markets, similar to what happened when people got into bitcoin in september 2013 due to lack of trust in banks/cyprus,etc, so GREXIT could be positive for bitcoin.
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