Bitcoin /USD rate (February 2022)
Another update. I still believe a low of $24k for bitcoin is possible before one last push up and then real doom? who knows
wave count must be taken with a grain of salt, a lot of this is just a guess at this point and I need to do much more heavy re-considering to get more accurate waves in place
I believe we are in an elliott wave expanded/irregular flat finishing off a C wave in supermillenium scale. On a smaller cycle scale, I also believe we are about to complete a D wave in a triangle (broadening wedge.) D wave could possibly end near $41-$44k and the E wave could go as low as $28k or $22k-$24k in my opinion. $24k makes the most sense to me in order to complete an expanded flat at 123.6% - 161.8% of wave AB.
If support is found near $24k ranges, I believe a corrective 3 to $52k (abc/wxy) will occur, followed by a corrective 5-3-5 zigzag down to doom levels around $6k-$8k.
My elliott wave is not accurate yet but this is practice in hopes to get better. Please do your own research as always!
To be explicit: I believe peaks and lows that will be achieved from now until mid/late 2023 are:
Low: $6,580 (±25%)
High: $52,043 (+11%)
This could be wrong but I’m just documenting my ideas now so I can attempt to see where I went wrong in the future. I have said it often recently but I will keep saying it, I am biased towards being bearish on bitcoin and cryptos in general at the moment. I don’t want to change my mind which sounds crazy right now. $8,000 bitcoin price still seems like the safest bet for calling lows in my opinion.
Previous charts I've built coming to these conclusions:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
Another update. I still believe a low of $24k for bitcoin is possible before one last push up and then real doom? who knows
wave count must be taken with a grain of salt, a lot of this is just a guess at this point and I need to do much more heavy re-considering to get more accurate waves in place
I believe we are in an elliott wave expanded/irregular flat finishing off a C wave in supermillenium scale. On a smaller cycle scale, I also believe we are about to complete a D wave in a triangle (broadening wedge.) D wave could possibly end near $41-$44k and the E wave could go as low as $28k or $22k-$24k in my opinion. $24k makes the most sense to me in order to complete an expanded flat at 123.6% - 161.8% of wave AB.
If support is found near $24k ranges, I believe a corrective 3 to $52k (abc/wxy) will occur, followed by a corrective 5-3-5 zigzag down to doom levels around $6k-$8k.
My elliott wave is not accurate yet but this is practice in hopes to get better. Please do your own research as always!
To be explicit: I believe peaks and lows that will be achieved from now until mid/late 2023 are:
Low: $6,580 (±25%)
High: $52,043 (+11%)
This could be wrong but I’m just documenting my ideas now so I can attempt to see where I went wrong in the future. I have said it often recently but I will keep saying it, I am biased towards being bearish on bitcoin and cryptos in general at the moment. I don’t want to change my mind which sounds crazy right now. $8,000 bitcoin price still seems like the safest bet for calling lows in my opinion.
Previous charts I've built coming to these conclusions:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
