BITCOIN: aside of the COVID19 effect on the whole market... by toofasteddie

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hive-167922 · @toofasteddie ·
$0.50
BITCOIN: aside of the COVID19 effect on the whole market...
...we have a nice Bullish Pattern on BITCOIN.

![](https://cdn.steemitimages.com/DQmWRXXaFo8mJxm7LoMdgz7XBBvn5XjMJumpJ6TKSFD3i7Q/image.png)

The question is... is the "handle" completed or still on going?

Looking at FIBONACCI's retracement levels, BITCOIN is now moving below the 0.5 FIBO Resistance, very likely is going to reach the 0.382 FIBO to end the correction.

![](https://cdn.steemitimages.com/DQmVkK4e3nkfa5mMKB2GQiGPY7oQdNy6tqdYaVQsmLE6LnK/image.png)

One Elliot-Wave count I found possible in this correction is a 3-3-5 Flat Correction, being the last leg, the one under formation, the deepest one of the correction.


![](https://cdn.steemitimages.com/DQmQUWXXGFkt8KDMbD3Q9xDuUqC8weScY1ePVcQ4B7ZL33s/image.png)

I am placing Buying orders in the area from 8450 to 8000 USD, this COVID-19 effect on the crypto market should not last so long IMO and the projected target of this Bullish Pattern deserves the money IN now.

![](https://cdn.steemitimages.com/DQmcM4QhajEtVmMKSVTST7Thq968HyyryTtgAGDDGLFiSxR/image.png)

Which is your strategy? Are you buying, selling or simply observing?

Enjoy!

@toofasteddie

---


**Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.*

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@acesontop · 
Your buying orders shall be filled. The sentiment is clearly still shaken and $8,000 seems legit as the bottom for this correction. I doubt that we will get to $7,000 again, as I am still convinced we're in a bull market, but you can't moon just from one shot. There is some interesting guy that I'm following on twitter and he's talking about a $17,000 BTC till halving time. What do you think?
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@toofasteddie · 
Well, if I followed my last EW-count that I wrote long ago, 17000 is a very likely target for 2.618 FIBO level of a third extensive wave, being the one on course a 2nd. Yes, I agree with your friend... !BEER
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@beerlover · 
<div class='pull-right'>https://cdn.steemitimages.com/DQmaHThyECGhEx8tSfHZbiMFRNYjJ35K92cDgiJjkzBUaJo/One%20sip%20of%20BEER%20for%20you.gif<p><sup><a href='https://steem-engine.com/?p=market&t=BEER'>View or trade </a> <code>BEER</code>.</sup></p></div><center><br> <p> Hey @acesontop, here is a little bit of <code>BEER</code> from @toofasteddie for you. Enjoy it!</p> <p>Learn how to <a href='https://steemit.com/beer/@beerlover/what-is-proof-of-stake-with-beer'>earn FREE BEER each day </a> by staking.</p> </center><div></div>
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