After zooming out and studying Bitcoin in depth, we have come to a really nice Elliot wave scenario. We started the bullrun late January at around 33k. We are currently in the First wave of FIVE.
Here's the breakdown:
First Wave - 5 wave impulse
Second Wave - 3 wave correction
Third Wave - 5 Wave impulse (often the biggest wave)
Fourth Wave - 3 wave correction
Fifth Wave - 5 wave impulse (or ascending correction)
Expecting the current wave to end soon and then start an ABC correction (second wave)
Please note that the wave extensions are not drawn to scale. We'll have to play it by ear and adapt to the market - BUT the framework is there.
We will be updating Bitcoin frequently to keep you up to date.
Let us know what you think below - Goodluck!
Here's the breakdown:
First Wave - 5 wave impulse
Second Wave - 3 wave correction
Third Wave - 5 Wave impulse (often the biggest wave)
Fourth Wave - 3 wave correction
Fifth Wave - 5 wave impulse (or ascending correction)
Expecting the current wave to end soon and then start an ABC correction (second wave)
Please note that the wave extensions are not drawn to scale. We'll have to play it by ear and adapt to the market - BUT the framework is there.
We will be updating Bitcoin frequently to keep you up to date.
Let us know what you think below - Goodluck!
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Bitcoin - Currently in wave 3
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Bitcoin 4H Update -
See full idea here: