Today, I don't want to bore the more experienced Elliott wave analysts on here, with the same old long term chart.
Therefore, I choose to post our micro-count as the main chart on this idea, which clearly highlights our expectations of the upcoming weeks in bitcoin.
As of now bitcoin is trading around the bottom line of our highlighted bullish trend channel, the longer we stay around these levels the probability of a bullish breakout decreases. Additionally, the slight sell-off in the last hours lets me assume, that the marked establishes another bullish wave (i) - wave (ii) setup. (Marked in green)
So bitcoin would have established two bullish wave setups, and therefore our projected wave 5 should be very impulsive.
At last, I want to point out, that bitcoin has to stay above 25'830.60$ under ANY CIRCUMSTANCES. If we break below this level, we will activate our alternative (alt.ii) and the count will be adjusted.
That's it for today, greetings from Ben :)
12H Chart - Bitcoin (Index)
If you should have problems with tradingview's scaling of our chart, feel free to look at the chart below.
Please note that we are already invested in Bitcoin since the 15th of June 2022, back then we announced our first positions on tradingview.
Long Bitcoin (BTCUSD) AVERAGE EXECUTION PRICE: 20’714.20$ STOP-LOSS: NONE LONGTERM TARET: +120’000$
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Good evening...
The market shows a first reaction to our bullish scenario, of two separate wave (i) - wave (ii) setups. Depending on the volatility in the US markets, we should experience an impulsive push towards 30'000$. Most altcoins show interesting movements and solana leads the market for now, we will cover this in the upcoming week.
I have recorded a detailed video on the situation in bitcoin and ethereum, but won't post it on here today. You guys know where you can find additional info....