Mikhiavelli

BTCUSD Daily - Little Hope Left Crypto Winter in Season

Short
Mikhiavelli Updated   
COINBASE:BTCUSD   Bitcoin
As you can see bitcoin is in a dire situation. There maybe a relief bounce to 33k to close a gap produced on the bearish push down. However I doubt that it will amount to anything, if it were to hold there is a chance for a new bullish cycle to start, but no signs yet. Instead we're developing momentum downward and will start to really grind if we don't get that relief bounce soon. The trend on the daily is a loss of momentum, I'm seeing a 5th wave ending on bitcoins grander cycles meaning the deepest bearish cycles may yet come to be. Maybe it will be a quick gutting, everything crashes at once, and bitcoin goes to unimaginable lows. As the dust settles, it may re-emerge from its ashes and start a new cycle. If not, it could be a slow and painful, complicated recovery or simply an outright death.

Big Picture:

Zoom Zoom:

Previous Analysis:




Elliot Wave Count/Gann Chart:


Immediate Target 33k (if bitcoin has relief bounce)
Next Target 20-22k
Long Term Target 3-13k
If BTC Recovers 80-120k

This is not financial advice.
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POTENTIAL? Reversal zone :)