Today I looked back at the entire process of BTC. Now I don't think 12000 is the bottom anymore. BTC will reach 1441 usd in the next few years. And that's the bottom of the whole cycle.
Currently I am wondering if it is running a correction or an impulse wave, if it is a correction 4, the bottom of BTC will be at 12-15k. We have the analysis (read the link again)
For impulse wave, 48k will be big short for BTC from 48 to 1k. Beards can stretch to 53k.
This post is still private. Please do not share as much outside as the previous analysis. Because an opportunity that everyone knows is no longer an opportunity.
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Elliot wave count analysis
With this wave structure. Wave 4 is flat, then the final wave C will run with 5 small waves with targets 1.618 to 2.618. However, at 2.618, wave 4 overlapped wave 1, violating the wave principle.
So wave 4 will stop at 30684 on coinbase for line chart type. With candle stick chart i dont know!
With the crest of wave 5 of wave C (4). We have 3 ways to calculate
1: is 120% of wave 4 2: Is equal to the 1 . wave itself 3: is the extension of waves 1 and 3.
We have 2 levels that are 25500 and 29200. (2 these levels I give you to sell.
At 25500 we sold to 20000.
at 29200 sold but in line chart form. Therefore, its stop is not available and can only be calculated based on data from waves 1 and 3 of wave C.
To be more certain, the stop should be at 33700. Because when BTC crosses this point, we will completely switch to an uptrend. Currently still in the state of extended adjustment.
Since 2 years ago, the target of wave 5 has always been the 12k zone.
I always believed that 15k was the bottom of this cycle. If we have to revisit 15k and worse scenarios like 12k or 1.5k, then this market is truly terrifying. How can BTC go from 1.5k to 140 - 170k in the next cycle?