BTC possible elliot wave count

If we can hold an higher low above 20k, we are possible in wave 2 of a bigger wave 3

Wave 3 tends to be very impulsive and have an extension in its wavecount

Comment:

The correction could be over for bitcoin, namely wave 2 of a extended wave 3.

When i look at btceur chart i see:

That we are holding multiple daily closes above the summer high of 2022 and holding the 0,786 fib (normal scale) of the downtrend created in 2022 around 25k euro

If you measure the targets on current data and take in account that the correction is over, you have:

an 1.618 Fib extension for the internal 3the wave, around 47k euro that perfectly lines up with the buying climax of 2021 and the lower high made in 2022

and an 2.618 Fib extension for the extended wave 3 around 60k euro that lines up with ATH

Wave 5 can than go a little bit higher around 80k euro to hit the resistance of the expandanding wedge

This al could take 3 months to 9 months to play out so the siutation could chance of vary

Comment:

Possible Adam en Eve bottom tot start the next move en break the larger bullflag

Comment:

The first two waves could be over for bitcoin, namely in an flat corection shape
We schould go higher from here on out, adam and eve bottom still in play

Comment:

we failed to make an new low at this moment and are oversold too, so the 1-2 count is not invalidated
if this bump and run scenrio plays out than the double bottom could turn into an triple bottom

Comment:

The run should start now

Comment:

Reaccumulation idea, expecting a jump across the creek

Comment:

A common mistake traders make with Reaccumulation is to conclude it is Distribution and they initiate a short selling campaign.
The key points to be made are that during Distribution volatility and volume increase as the trading range matures and prepares for a bearish downtrend. During Reaccumulation the opposite takes place because of the principals of Absorption.

Comment:

So the bump and run played out, triple bottom broke out, 31k is next target

Comment:

Bitcoin looking for a bullish monthly close at 31k

Comment:

Bullish monthly close seems unlikey now
however were still making higher highs en higher lows so the recent move could be another 1-2 wave building up for the bigger wave 3 were volume should be higher and higher

Comment:

another 1-2 really zoomed in after the green 2

Comment:

What happens after a series of 1-2 waves?

A series of 3-4-5 waves

Comment:

Reaccumulation and 1-2 waves idea still not invalidated, if if plays out this will eventually go parabolic, it's only just beginning, just another test of support and 12h 200sma

Comment:

1-2 waves invalidated after the fear dump yesterday
Because of this invalidation the correction wasn't finished on the 25,8k low where i began counting the first wave

So whats my count now? A complex correction or a double three
A first ABC correction into W, then an ABC correction into X an then to finish another ABC correction in Y

The correction could stil extended in a triple three correction where you could see another correction in X an to finish Z

If it is already finished the correction we except a first 1-2 wave