Market Analysis by Dr. Arnout ter Schure covering: Bitcoin US Dollar. Read Dr. Arnout ter Schure 's Market Analysis on Investing.com
) in preferably, what’s called in the Elliott Wave , an “Ending Diagonal.” In our previous update from two weeks ago,
Fast-forward to September 27, when Bitcoin’s price reached $66547 and then declined to $59846 on October 3. Thus, our top and bottom forecasts were only off by 0.8 and 0.3%, respectively, something our premium members can rely on daily. However, the orange W-b may not be complete, and a break below the October 4 low can usher in the option shown in Figure 2 below. It suggests we see another small W-c lower, equal length to the blue W-a, targeting the lower end of the ideal W-b zone at $58K. From there, the orange W-c setup can then be tried again.
How do you use this work to your advantage? Well, simple. We have been able to forecast the price action over the last month reliably and accurately using the ED’s path. Therefore, it remains our preferred POV, contingent on the price holding above the September 6 low, with a severe warning just below the October 3 low.
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