Peak to peak and trough to trough analysis reveals a parabolic curve bottoming out and could lead up again. All signs point to further consolidation over subsequent months before bitcoin 2.03% resumes its uptrend.
Takeaways:
1. Elliot Wave patterns are predictable to a great extent which can be used for short term margin trading.
2. Model shows decreased volatility over the next few months so altcoins might find their chance to shine.
3. A high of $12,000 for Dece 2018 as well as $28,000 for June 2019 presents sobering (and realistic) price targets for pundits.
Assumptions:
1. Bitcoin 2.03% found its low at $5,700 - analysis has to be updated if the market mints a new low
Takeaways:
1. Elliot Wave patterns are predictable to a great extent which can be used for short term margin trading.
2. Model shows decreased volatility over the next few months so altcoins might find their chance to shine.
3. A high of $12,000 for Dece 2018 as well as $28,000 for June 2019 presents sobering (and realistic) price targets for pundits.
Assumptions:
1. Bitcoin 2.03% found its low at $5,700 - analysis has to be updated if the market mints a new low