Bitcoin Price Forecast: Predicted Bitcoin Low Of 6580

My article on October 2nd, 2019, showed the low of this range is around the 6580 value area.

Price action will need to confirm the 6500 value area as support.

A look at the past

October 2nd, 2019 Bitcoin Chart

On October 2nd, 2019, I wrote about applying Elliot Wave Theory and Fibonacci measurements to determine essential price levels for Bitcoin in the future. The chart above is Bitcoin’s chart from October 2nd. I wrote: “The dotted line represents the forecasted price level and date range that I expect Bitcoin to move to the 6580 value area in late October 2019/Early November 2019.” I didn’t get the time right, but the price zone was: “… projected low of 6580.” I limited my analysis at the time to identify the swing levels that would be necessary for the Elliot Wave structure above to play out. I want to expand a little more on why the 6580 value area was used…