BITCOIN: CANDLES SPEAK: 21.04.2021


I hope you can appreciate the precision that Elliott Waves theory allows to forecast the corrections. The BTC behavior over the last three days just followed the book example.

As predicted, BTC bounced between 58000 and 51500, following the green path on the hourly chart below.

Forecast

From previous forecast: “Once wave B is complete, expect wave C with the preliminary targets 48000-43000.

There is a high chance that wave C in green has already started.
At the same time, there is a slim possibility that the coin decides for another swing to 57000-58000 area (marked as Alt B in red), before starting wave C.

Once the wave C completes, possibly, this would be just the first wave (A) of a much bigger and longer corrective action. This week candle would be very important for this part of forecast.

The most recent Long Term Forecast – April 18:

The first forecast of the upcoming correction – March 24:

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