Technical Analysis and Elliot Wave applied to Bitcoin in a potential bear scenario.
Everyone is expecting the inverse head-and-shoulders to be confirmed as a major bullish signal.

If inverse head and shoulders gets confirmed, bitcoin will be headed to 14.000-15.000 levels.
Key fact is: this pattern could have been denied already

Let's expect the unexpected

Leading triangle has been broken downwards, which is a bear signal. If bitcoin can't mantain above 11k the underlying sentiment won't be as bullish as it was a few days ago.

Let's point out key levels that are likely to be tested in a bear scenario and will act as support zones.

This Elliot Wave Count is slightly different as the last ones I've been presenting here.
This one fits best as a future bearish scenario.

Why I'm showing a different EW Count?
The reason is, I'm always open to all possibilities.
Just try to trade likely scenarios while getting involved in profitable risk/reward ratios.

However, above 11k I'm still very bullish in bitcoin.
Unfurtunately, this is likely to go to 9k.

UPDATED MARCH 8TH HERE:
https://steemit.com/beyondbitcoin/@luiggih/bitcoin-expect-the-unexpected-2-entry-points-to-ride-next-bull-wave

UPDATED ! MARCH 10TH HERE
https://steemit.com/beyondbitcoin/@luiggih/bitcoin-expect-the-unexpected-3-new-bull-cycle-about-to-start

Thanks for Reading!