📍According to Elliott Wave Theory: It has completed a full bullish cycle and is currently undergoing a corrective phase in the form of a 3-wave abc pattern. Currently, Wave a has been established and Wave b is in formation. In my opinion, this could potentially mark the end of Wave b and the beginning of Wave c (Wave c in Elliott Wave Theory can be the sharpest wave). We might anticipate a significant downward movement for Bitcoin.
I always wonder why all these people drawing correction up to 5k or so? Do they really believe that Bitcoin will fall that far? We will be lucky if we see Bitcoin at 35k not 5k imo
lilebi
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@fastprofittrader The price is not just a technical chart, and in long-term analysis, much more weight should be given to the economic situation. In the current conditions of the world, there is no money in the economy that people can use to buy bitcoins.
lilebi
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@fastprofittrader With any technical method you check, the chart shows a drop