Final Drop for Bitcoin before MAJOR BULLISH 🚀 (ELLIOT WAVE)
MAJOR TIMEFRAME
For Bitcoin it seems like we are about to complete our 4th Wave in the major timeframe. As we can see the 4th Wave is unfolding to be a FLAT corrective structure. Based on ELLIOT WAVE'S theory a FLAT structure is usually in a 3-3-5 Form. We can see that LEG A of the flat completes as a 3 wave pattern and so does LEG B as well. As for LEG C we would be expecting it to unfold in a 5 wave pattern. We are currently in the midst of completing LEG C of the FLAT which also means completing Wave 4 as a whole in the Major timeframe. After that we will be focusing on BUYS to the moon
MINOR TIMEFRAME
As mentioned above we are currently in LEG C of the FLAT corrective structure. For LEG C we anticipate it to complete in a 5 wave move down movement. Based on the current pricing I believe we have just about completed 4 of the 5 required waves down to complete LEG C. Meaning we are in our final wave to the downside for Wave 5 before completing the FLAT structure which would also mean the completion of Wave 4 as a whole
ENTRY AREA
In a 5 wave structure the 5th and the 1st waves are usually about the same length. That would mean our next move down for Wave 5 is expected to be about the same length as its Wave 1 above. However this is just an approximation as Waves at times could do extensions which would then push price a little lower in this case. Another thing to take note about the FLAT structure is that its LEG C usually terminates at the start of its LEG B and most of the time even exceeds it by a little. So expect price to break slightly below the start of LEG B (28700$)
My entry for BUYS would be around (28700$ - 26000$). I'll be holding this untill it breaks the current tops which would be at around 71000$
For Bitcoin it seems like we are about to complete our 4th Wave in the major timeframe. As we can see the 4th Wave is unfolding to be a FLAT corrective structure. Based on ELLIOT WAVE'S theory a FLAT structure is usually in a 3-3-5 Form. We can see that LEG A of the flat completes as a 3 wave pattern and so does LEG B as well. As for LEG C we would be expecting it to unfold in a 5 wave pattern. We are currently in the midst of completing LEG C of the FLAT which also means completing Wave 4 as a whole in the Major timeframe. After that we will be focusing on BUYS to the moon
MINOR TIMEFRAME
As mentioned above we are currently in LEG C of the FLAT corrective structure. For LEG C we anticipate it to complete in a 5 wave move down movement. Based on the current pricing I believe we have just about completed 4 of the 5 required waves down to complete LEG C. Meaning we are in our final wave to the downside for Wave 5 before completing the FLAT structure which would also mean the completion of Wave 4 as a whole
ENTRY AREA
In a 5 wave structure the 5th and the 1st waves are usually about the same length. That would mean our next move down for Wave 5 is expected to be about the same length as its Wave 1 above. However this is just an approximation as Waves at times could do extensions which would then push price a little lower in this case. Another thing to take note about the FLAT structure is that its LEG C usually terminates at the start of its LEG B and most of the time even exceeds it by a little. So expect price to break slightly below the start of LEG B (28700$)
My entry for BUYS would be around (28700$ - 26000$). I'll be holding this untill it breaks the current tops which would be at around 71000$