Bitcoin is completing its first cycle, look at the chart please
from 2009 until now bitcoin is completing first cycle but It's not over yet because last drop Remained.
...........................................................
According to Elliott's theory, a complete cycle consists of five ascending waves and three descending waves.
ascending waves complete but second bottom remain that we can say the cycle finish.
bottom 2 should be lower than bottom 1,so 3850 isn't bottom 2.
............................................................
part 1 :
the price may reach 7960$(0.68 fib) and after that start to drop
19500 / 6.17 = 3160$ (first bottom was 3122$)
If we consider 13900$ as a starting point for second price correction :
13900 / 6.17 or 7.86 = 2252$ or 1768$ (second bottom)
...........................................................
part 2 :
Bitcoin Incredibly follow the rules of Mathematical and numbers.
pay attention to this numbers : 128 - 256 - 512
from 2009 - 2012 : (3 years)
0.054 * 256 = 13.824$ (first high was 13.7$)
13.824 / 6.17 = 2.24$ (first low was 2.22$)
from 2012 - 2015 :
2.24 * 512 = 1147$ (second high was 1163$)
1147 / 7.6 = 150$ (second low was 152$)
from 2015 - 2018 :
150 * 128 = 19200$ (third high was 19600$)
19200 / 6.17 = 3112$ (third low was 3122$)
from 2018 - 2020 :
price correction
The first cycle is complete in this year and begin second cycle.
..................................................................
part 3 :
As you know the history like repeat itself So maybe we can predict the future of bitcoin's price :
from 2020 - 2023 :
1768 * 256 = 452608$
452608 / 6.17 = 73356$
................................................................
I'm appreciate for reading.
from 2009 until now bitcoin is completing first cycle but It's not over yet because last drop Remained.
...........................................................
According to Elliott's theory, a complete cycle consists of five ascending waves and three descending waves.
ascending waves complete but second bottom remain that we can say the cycle finish.
bottom 2 should be lower than bottom 1,so 3850 isn't bottom 2.
............................................................
part 1 :
the price may reach 7960$(0.68 fib) and after that start to drop
19500 / 6.17 = 3160$ (first bottom was 3122$)
If we consider 13900$ as a starting point for second price correction :
13900 / 6.17 or 7.86 = 2252$ or 1768$ (second bottom)
...........................................................
part 2 :
Bitcoin Incredibly follow the rules of Mathematical and numbers.
pay attention to this numbers : 128 - 256 - 512
from 2009 - 2012 : (3 years)
0.054 * 256 = 13.824$ (first high was 13.7$)
13.824 / 6.17 = 2.24$ (first low was 2.22$)
from 2012 - 2015 :
2.24 * 512 = 1147$ (second high was 1163$)
1147 / 7.6 = 150$ (second low was 152$)
from 2015 - 2018 :
150 * 128 = 19200$ (third high was 19600$)
19200 / 6.17 = 3112$ (third low was 3122$)
from 2018 - 2020 :
price correction
The first cycle is complete in this year and begin second cycle.
..................................................................
part 3 :
As you know the history like repeat itself So maybe we can predict the future of bitcoin's price :
from 2020 - 2023 :
1768 * 256 = 452608$
452608 / 6.17 = 73356$
................................................................
I'm appreciate for reading.
