I’m so proud of my daughter, who called the top of Bitcoin in December, and proclaimed to the other Seniors in her High School that Bitcoin was a Freakin’ Bubble. She even convinced the father of one of her friends to short it, which he did, though he chickened out on the subsequent bounce… lol.
The Second wave of the advance of Bitcoin was a year and a half long. Therefore, the Fourth wave should be comparable in length. This means the sell off in Bitcoin should last for about another 8 months. As I see it this is very likely to happen and the Elliott Wave Chart is drawn up as such.
Bitcoin needs to stay above the 1175 Line of Doom. Once Bitcoin drops below that price the fourth wave will have entered the price range of the second wave and the upwards impulsive move will at that point become an upwards correction. ALL corrections eventually retrace, which in this case Bitcoin will retrace to ZERO…
The Second wave of the advance of Bitcoin was a year and a half long. Therefore, the Fourth wave should be comparable in length. This means the sell off in Bitcoin should last for about another 8 months. As I see it this is very likely to happen and the Elliott Wave Chart is drawn up as such.
Bitcoin needs to stay above the 1175 Line of Doom. Once Bitcoin drops below that price the fourth wave will have entered the price range of the second wave and the upwards impulsive move will at that point become an upwards correction. ALL corrections eventually retrace, which in this case Bitcoin will retrace to ZERO…
