Trading Bitcoin | Buy Orders | Elliott Wave (Mar 2020) – Part 1 for BITSTAMP:BTCUSD by Lionheart-EWA
BTC/USD (weekly) has been labeled within a Cycle Degree wave III starting point.
Cycle Wave II (black) has been called as the bottom during Dec 2018, unleashing the Crypto Bull Market.
Primary (2) (green) hit the bottom in December 2019.
Cycle II (black) Structure – Double Flat
Dec 2017 peaks and down until Dec 2018 bottoms – Cycle II (black)
Primary 1 (blue) Sequence – Impulse
Break-out and confirmation of a bullish sequence.
Primary 2 (blue) Structure – Correction
Descending Channel unfolding within a complex Triple Three sequence.
Next expected swing
Bullish Impulse, with a rally in the 3 of 3’s, of a Primary degree.
Levels in focus: $7800 & $5550.
Bullish Impulse (Rally) presenting an Extension towards $35K and then beyond.
Primary 2 (blue) invalidation is at $3122.28.