If you have been following us regularly, you must have noticed how often we use the word “divergence” in our analyses, usually when expecting a trend reversal. A divergence occurs when the price reaches a new extreme, while the line of the indicator, which measures the force behind the price move, does not. It means that…
Price of Bitcoin Short-Term Vulnerable
In our previous article about the cryptocurrency, titled “Bitcoin ETF Rejected by the SEC? No Problem!”, we expressed a bullish opinion, shortly after the price of bitcoin touched a low of $944. The positive outlook was motivated by the Elliott Wave interpretation of the 4-hour chart below. As visible, this chart made the classic 5-3…
Bitcoin ETF Rejected by the SEC? No Problem!
Last Friday, March 10th, the SEC rejected a proposed change in its rules that would have allowed the Winklevoss brothers to create the first Bitcoin ETF. Following the decision, the price of the cryptocurrency fell over 20%, from nearly $1290 to as low as $975 in a matter of minutes. And while the speed and…
