many investors and traders have been hit by the bitcoin bubble of euphoria, many analysts have said that bitcoin is already dead but...cryptos have recovered lately which makes us wonder is it a simple correction or the start of a bullrun?
from a fundamental point of view and with the arrival of AI, decentralized finance has gained some additionnal force, from a long-term vision there is clearly a bull market which has corrected brutally to stop right on the famous golden ratio, a common characteristic of a second waves or b waves, we can expect a third wave or c wave, the interesting thing to note is that on a daily basis we clearly have a five waves move up which started since the recovery of the cryptos, In case what is unfolding is a c wave, it can be truncated and mesure only 61.8% of the bull phase that unfolded from 2015 to april 2021, which clusters with the fifth wave level that was taken out few months after arround 50-55k.
We know an impulse has unfolded on the short terme, the 30k level is next to come, the reaction of prices arround this level will clear up most of the questions in the upcoming weeks.
from a fundamental point of view and with the arrival of AI, decentralized finance has gained some additionnal force, from a long-term vision there is clearly a bull market which has corrected brutally to stop right on the famous golden ratio, a common characteristic of a second waves or b waves, we can expect a third wave or c wave, the interesting thing to note is that on a daily basis we clearly have a five waves move up which started since the recovery of the cryptos, In case what is unfolding is a c wave, it can be truncated and mesure only 61.8% of the bull phase that unfolded from 2015 to april 2021, which clusters with the fifth wave level that was taken out few months after arround 50-55k.
We know an impulse has unfolded on the short terme, the 30k level is next to come, the reaction of prices arround this level will clear up most of the questions in the upcoming weeks.