What is the final destination of Bitcoin? Is it able to survive from the disaster?
I offer you here the possible scenario for BTC based on Elliott wave count on monthly time frame. Everything is clear in on the chart.
Please note that this is just schematic drawing which approximately describes the price reaction zones estimated by implementing some typical Fibonacci levels. I kindly ask you to disregard the timing on the chart.
Is it always good to get general view of the market.
Good luck everyone.
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It is good to know that this is just normal ascending Elliott wave cycle. We have different forms of Elliott waves cycles like ascending anti cycle, descending anti cycle , etc...
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As I published in another idea seperately , we are probably in wave 4 of A which means correction and reaching below 20K targets takes several weeks.
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It is following the prediction so far. Lets see what happens next.
I've seen some counts that resembled your count you published on May 21, your current count doesn't seem as disastrous, very cool, thank your for your work
SaeedSajedi
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@rickraven86, Thanks. Actually its disasterous for short term or mid term traders..This scenario suggests that end of correctiob may be around 17000 50% less than current price.Please take it into consideration that it is just 5 wave normal asending Elliot cycle..we may have an anti cycle.
SaeedSajedi
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@rickraven86, please note that one is the worst case scenario.
rickraven86
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@SaeedSajedi, I understand that, and I've felt some of the disaster, anyway, it could either turn out to be more disastrous or opportunistic, or perhaps both, it will be interesting to see how it plays out, thanks for your insight
SaeedSajedi
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@rickraven86, Welcome. Wish you huge profits my friend