$30,000 for Bitcoin by the end of 2021 according to Elliot Waves
🌊 Elliott Wave Theory from a macro perspective shows a rather interesting results.
🔹 If we start wave counting from December 2018, then in the summer of 2019 Bitcoin completed 1st wave of the new super cycle.
🔹 Following ABC-correction ended in March and now BTC is starting the 3rd wave formation.
🔹 Wave 3 consists of a 5-wave smaller cycle, where each wave also has a similar structure.
🔹 We could expect 1st wave of a smaller cycle to be completed in $11,500-$12,000 zone. ABC-correction, which will be completed by the end of 2020, is expected after.
🔹 The continuation of this wave cycle is likely to lead the price of Bitcoin to $20,000, and then to $30,000 by the end of 2021.
🤩 And this will only be the 3rd wave of the 5-wave super cycle...
🔹 If we start wave counting from December 2018, then in the summer of 2019 Bitcoin completed 1st wave of the new super cycle.
🔹 Following ABC-correction ended in March and now BTC is starting the 3rd wave formation.
🔹 Wave 3 consists of a 5-wave smaller cycle, where each wave also has a similar structure.
🔹 We could expect 1st wave of a smaller cycle to be completed in $11,500-$12,000 zone. ABC-correction, which will be completed by the end of 2020, is expected after.
🔹 The continuation of this wave cycle is likely to lead the price of Bitcoin to $20,000, and then to $30,000 by the end of 2021.
🤩 And this will only be the 3rd wave of the 5-wave super cycle...
Comment:
⚠️ This idea is a hypothetical simulation of the price in the future and is not a basis for entering a trade. Personally, I do not trade waves, I only use them as an additional factor.
Comment:
200-week moving average can be considered as an additional factor. Bitcoin has never truly broken through it. I admit that the price can retest it on correction.
