Good Day!
Only my point of view, but in long term scenario falling is very risky for BTC life, so I don't think market will do it. But of course I should prove it. Now we had breakout of ascending wedge, so price will go a bit deeper(down), under 40k.
And here price has a choice: go to 28k?(what can cause descending triangular formation) or continue rising, what will actually prove the hole ascending cycle formation with Elliot principles. And I don't see any divergence on A/D indicator or other signs of real bear danger, instead we have a bullish diver.
Elliot waves have strongly market bullish meaning, and the previous rising wave 1-2-3-4-5 is just smaller lvl as in theory, now we have abc movement, which is just first correction.
So its clear to see we should wait a big pump. And when the price will follow the bullish view we will see not only new highs, but price about or above 100k, because imagine what will be the third wave in size as the largest one.
A bear view u can see in my previous ideas.
Have a good day!
Only my point of view, but in long term scenario falling is very risky for BTC life, so I don't think market will do it. But of course I should prove it. Now we had breakout of ascending wedge, so price will go a bit deeper(down), under 40k.
And here price has a choice: go to 28k?(what can cause descending triangular formation) or continue rising, what will actually prove the hole ascending cycle formation with Elliot principles. And I don't see any divergence on A/D indicator or other signs of real bear danger, instead we have a bullish diver.
Elliot waves have strongly market bullish meaning, and the previous rising wave 1-2-3-4-5 is just smaller lvl as in theory, now we have abc movement, which is just first correction.
So its clear to see we should wait a big pump. And when the price will follow the bullish view we will see not only new highs, but price about or above 100k, because imagine what will be the third wave in size as the largest one.
A bear view u can see in my previous ideas.
Have a good day!