Hi all,
There has been no any changes in the crypto market in the last weeks but there has been interesting price actions in DXY, EUR, GBP, JPY and XAU.
It seems like the fear is huge all around the world now in every market. Is it just a start of a big market crash or the fear is being exaggerated?
We may end with the boring market conditions soon or we'll see even larger dips in all markets.
For the good scenario, we need to see the inflation to go down, FED stops rate increase, war to stop or calms down. Euro zone gets stronger and DXY gets weaker! Then, the things will get much much better!
I do not expect to see the larger dips that much but if this is the case, everybody will lose in all positions and chaos will be everywhere. It's important to keep some cash for chaos!!
I've been following the Elliott Wave Analysis for BTC for a long time. Wave 4 dip may already be in or soon will be in.
Since I'm in the spot market only, I'll be totally fine down to 14-16K area in Bitcoin and do not expect to see lower prices.
Then, I expect to see the final wave 5 up to 120-160K in the second half of 2023.
What happens if BTC crosses down 13.5 (top of Wave1) ???
Then, this Elliott will be invalid and I will expect the price to consolidate at around 9-12K for the whole 2023 year.
In this case, BIG TARGET will be much larger but this will require much more time like 3-4 years.
This is not a preferred scenario but it's good to keep this in the mind when taking risks.
These are my opinions and not a financial advise.
Please do your own analysis.
Cheers!
There has been no any changes in the crypto market in the last weeks but there has been interesting price actions in DXY, EUR, GBP, JPY and XAU.
It seems like the fear is huge all around the world now in every market. Is it just a start of a big market crash or the fear is being exaggerated?
We may end with the boring market conditions soon or we'll see even larger dips in all markets.
For the good scenario, we need to see the inflation to go down, FED stops rate increase, war to stop or calms down. Euro zone gets stronger and DXY gets weaker! Then, the things will get much much better!
I do not expect to see the larger dips that much but if this is the case, everybody will lose in all positions and chaos will be everywhere. It's important to keep some cash for chaos!!
I've been following the Elliott Wave Analysis for BTC for a long time. Wave 4 dip may already be in or soon will be in.
Since I'm in the spot market only, I'll be totally fine down to 14-16K area in Bitcoin and do not expect to see lower prices.
Then, I expect to see the final wave 5 up to 120-160K in the second half of 2023.
What happens if BTC crosses down 13.5 (top of Wave1) ???
Then, this Elliott will be invalid and I will expect the price to consolidate at around 9-12K for the whole 2023 year.
In this case, BIG TARGET will be much larger but this will require much more time like 3-4 years.
This is not a preferred scenario but it's good to keep this in the mind when taking risks.
These are my opinions and not a financial advise.
Please do your own analysis.
Cheers!