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Burst Update - Last Subwave Correction!
I make a deliberate attempt to stay away from news, not to remain ignorant but to focus more on technical analysis. This is the fundamental principle of Elliot Wave analysis. Technical analysis helps to determine the sentiments of market and project the path. This path is confirmed by some form of incoming news. Burst is following the same path, as I projected in my recent analysis for CND and FUN. However, 4 hours chart shows that Burst requires more correction before start of another impulse. I would see this as an opportunity to buy. Why? If this is Subwave 5 or the last wave of Correction Wave 2, then we can safely presume correction will finish soon and market sentiments will take the price higher. It must also be noted that MACD is oversold already and what remains are the buyers! A price to place buy ladders should be anything between 360-390 satoshis. Overall, Burst is very bullish!
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