LONG TERM BEAR Indicators in the weekly/monthly time frame show Bitcoin has further to fall: -RSI: 2W-Monthly candles show it still has room to move into over sold territory. -MacD/Histogram: 3W-Monthly candles show no strong indication of flipping. -Elliott Waves: agrees with bearish set up. -Candles: still showing lower lows & lower highs.
SHORT TERM BULL In the 5D-Weekly timeframe there's a 49% growth potential. -Elliot Wave: Bitcoin completing 1-2-3-4-5 waves down to WAVE C. Currently in the 3-4 wave. Specifally, A-B-C. Support: $5758 Resistance: $8585