Elliott Wave View: Short Term Strength in Bitcoin
In the bigger picture, Bitcoin has been in sideways consolidation since topping out at $13880 on June 26. It did a 3 waves pullback to $9049.54 on July 17 and since then has been sideways. Further correction in larger degree can't be ruled out as a double zigzag structure from June 26 high, but the crypto-currency needs to break below $9049.54 to validate this view. In short term, chart below suggests that Bitcoin's rally to 10952.01 ended wave (B). The crypto-currency has since turned lower and the decline to 9855.11 on September 11 ende...
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