Bitcoin – Final Wipe Out Before New Bull Cycle?

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Technical Analysis (Elliott Waves):

• Main scenario of this idea suggests that highs of 2021 saw completion of the first global impulse wave, and we are now witnessing development of the second wave which normally bears very deep correction, below 0.786 retracement level (see higher timeframe graph)
  
• Although it’s very tempting to mark the high formed in November of 2021 as the final point of this global 1st wave, if looking at a lower timeframe, there are signs that the movement from June 2021 takes a corrective shape for the following reasons – (1) correction that took place between 7-19 September, presumably the fourth wave, is shorter in duration than presumably second wave that lasted between 27 June and 18 July, which breaks EW guidelines that 4 wave should be longer than 2; (2) it is very difficult to count motive waves as impulses, which have more likely taken shape of complex corrective patterns, zigzags or their series
  
• Hence, if this was not an impulse then it was most likely a wave B of an Extended Flat, and we are observing the development of wave C from the historic high and specifically wave 5 of 5
  
• The target range for this fifth is in the range $9000 - $13900 (see graph) – which may present up to 50% shorting opportunity
  

This is a higher timeframe to reflect the full history of Bitcoin and to provide full wave count:

The same graph in log scale:

What do you think about Bitcoin and its short term prospects?
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