Bitcoin a bubble? Not so fast...

In a world where cryptocurrency is still in its developing stages, its easy to be misinformed. Volatile markets can either reward you substantially or take away everything you started with, all in the blink of an eye. Cryptocurrency is a game of emotions which is why opinions vary from person to person. Let's take a look at Bitcoin from a entirely technical standpoint..

Technical Analysis over News

Some of you may ask why I choose to analyze Bitcoin solely based off technical analysis perspective, and it is because I have found it to be the most accurate way to predict price movement in Bitcoin. See, trading news can work sometimes but the problem is, "How do I know what news to trust?" The fact of the matter is we don't always know. Using technical analysis allows you to get the most out of each and every prediction. Although you cant always be right, you can set yourself up for more accurate predictions.

Below is a screenshot of my Bitcoin prediction in which I see prices hitting $10,000. What I see is a perfect Elliott Wave sequence playing out which means human emotion is driving this entire market. For those who don't know what Elliott Waves are , its a indicator used to analyze financial market cycles and forecast market trends by identifying extremes in investor psychology. For every Elliott Wave cycle you have the 1st leg which is an impulsive move followed by a small retrace. Next you have the same sequence play out from the 3rd impulsive leg to the slight pullback at the 4. Right now we are in the final move of Bitcoin's Elliott Wave Sequence where we will see one final impulsive 5th leg or, ' Wave." Normal stock and Forex Elliott Waves don't quite have the same power as Cryptocurrency. Crypto is very new which makes the emotional impulse moves stronger than other markets. In crypto markets the 5th wave is usually as big as the 1 and 2 waves combined. Right now we are currently riding the final wave of Bitcoin where I speculate we see a $10,000 BTC over the next few months. The problem is nobody has any idea what Bitcoin is doing, its good to get your information from a trusted source. Keep an eye out for this final Elliott Wave in Bitcoins Bullish Market Cycle!

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