BITCOIN - Elliott Wave Overview ✅

It's been a while since we analysed Bitcoin. That was partly due to Bitcoin being stuck in a correction.

The higher timeframe remains the same. We're in a massive ABC flat correction that has been in play for almost 2 years now. We are almost at the end of the correction.

A flat correction has 3 major waves - ABC (3-3-5). We are in C wave now, which has 5 waves.

We're currently in wave 4, which appears to be a complex correction. Not your average ABC. Safest thing to do is just let this correction run its course. When there's noticeable bearish pressure, we can get in on short term sells down to our buy zone aka LOAD UP ZONE! That's where we'll be looking to get in on the massive bullrun.

Overview
- Watch for wave 4 correction to finish and price to move down towards our buy zone
- Wave 5 will be 5 waves. Will mark that up when we're there
- Price needs to go below 17,500 in order for it to be wave 5 which is why our buy zone is below that level

What are your thoughts? Do let us know below!

Goodluck!

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BITCOIN UPDATE