I decided to mark Bitcoin's trend as a secular trend since its inception due to it maintaining a static trajectory regardless of short term economic conditions/trends having a minimal impact on its long term performance, until proven otherwise.
This is my preferred count since Bitcoin's inception. I put the number (1) in the title of the idea because I'll zoom in on the count in following ideas. I have already called the bottom of the expanded flat wave C low in previous posts, precisely on November 21 2022. From that point I had stated that the bottom was in on the Primary(corrective) trend until proven otherwise. That simply means I called for a reversal in trend! Therefore Bitcoin is no longer in a downtrend according to my perspective.
I strongly believe that it still hasn't even formed wave 5 in its reversal. I believe it's correcting in an expanded flat wave 4 and then wave 5 will follow up into 25k(ish), which will be wave 1 in a new impulse to then correct in wave 2 downward giving the bears another 15 minutes of fame until it reverses into wave 3 and blasts off to the moon! But no point in getting ahead of myself. Relax, all is well until 'proven' otherwise.............
So my sentiment is bearish(short) short term, but extremely Bullish(Long) long term! Therefore I'll label this idea as BULLISH due to the EW CYCLE Pattern & time frame. In fact I recently posted a shorter time frame idea on price being in a rounding top pattern.
All the best!
This is my preferred count since Bitcoin's inception. I put the number (1) in the title of the idea because I'll zoom in on the count in following ideas. I have already called the bottom of the expanded flat wave C low in previous posts, precisely on November 21 2022. From that point I had stated that the bottom was in on the Primary(corrective) trend until proven otherwise. That simply means I called for a reversal in trend! Therefore Bitcoin is no longer in a downtrend according to my perspective.
I strongly believe that it still hasn't even formed wave 5 in its reversal. I believe it's correcting in an expanded flat wave 4 and then wave 5 will follow up into 25k(ish), which will be wave 1 in a new impulse to then correct in wave 2 downward giving the bears another 15 minutes of fame until it reverses into wave 3 and blasts off to the moon! But no point in getting ahead of myself. Relax, all is well until 'proven' otherwise.............
So my sentiment is bearish(short) short term, but extremely Bullish(Long) long term! Therefore I'll label this idea as BULLISH due to the EW CYCLE Pattern & time frame. In fact I recently posted a shorter time frame idea on price being in a rounding top pattern.
All the best!
Trade closed: target reached:
To quote myself:
"I strongly believe that it still hasn't even formed wave 5 in its reversal. I believe it's correcting in an expanded flat wave 4 and then wave 5 will follow up into 25k ( ish ),
Unquote.............
"I strongly believe that it still hasn't even formed wave 5 in its reversal. I believe it's correcting in an expanded flat wave 4 and then wave 5 will follow up into 25k ( ish ),
Unquote.............