First of all let me kick of with the fact that there are many valid elliott counts to be done on our chart, and this is simply my preferred bullish count.
Secondly, it might very well be possible that the overall sentiment in the stock market influenced the eventual count that BTC might create here, it looks clear to me that DJI will aim for that 0.618 as well... (like I have been saying for a long time already and yesterday charted in an idea to show you clearly).
Last but not least, nothing is 100% certain at this moment, everything is still suspect to change, the bears might still be in perfect control as long as the daily doesn't close above 7100. Having a bullish count doesn't mean it will reach 8k and end below 8.2k, this is simply my view on the bullish potential, DYOR! And most of all check previous activity, you will see that wave 3 of 5 perfectly retraced to the 0.618 (that what rises hard will fall hard...).
Good luck!
Secondly, it might very well be possible that the overall sentiment in the stock market influenced the eventual count that BTC might create here, it looks clear to me that DJI will aim for that 0.618 as well... (like I have been saying for a long time already and yesterday charted in an idea to show you clearly).
Last but not least, nothing is 100% certain at this moment, everything is still suspect to change, the bears might still be in perfect control as long as the daily doesn't close above 7100. Having a bullish count doesn't mean it will reach 8k and end below 8.2k, this is simply my view on the bullish potential, DYOR! And most of all check previous activity, you will see that wave 3 of 5 perfectly retraced to the 0.618 (that what rises hard will fall hard...).
Good luck!
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Nothing is sure at this point, but for those looking to get into a long position, THIS would be your support to long from if you are a believer of this bullish pattern. Be careful and understand the extra risk! I might go for it myself, without using leverage :-)
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This looks clear to me for now, 6880 would by my guess for the perfect long later today/tomorrow!
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Please take the time to look at this carefully. On the higher time frame, there are still sooo many possible counts. But short term, most of them point bullish. This would be my play for tomorrow (buying the green zone around the 0.5 FIB). Good luck!
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B already in guys, this is going fast and I like that. :-)
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Bulls game strong!
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Placed a Limit long at 6970 and 6850.
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What more do you need? All according to plan :-)
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The beauty in this is so real!
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Don't get scared out of your positions yet! This is still looking more bullish than bearish. The golden zone was a perfect touch/fill which is very good and bullish and a perfect entry for those who dared to long until proven otherwise... We just hit the short term 0.786 from the overnight recuperation and had a small bounce from it. If we get a green hourly candle over the ocming 2/3 hours, bulls are still in control over the short to medium term.
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Explanation of above:
