BITCOIN : after the correction the Bull market will continue
This is a long term chart of BTC on a log scale.
I have placed on the chart my counts as to Elliott Wave analysis.
We already had waves 1 to 4 and wave 5 is under way.
At this period (short term) we are in sub wave (c) or (3) of wave 5 which has not ended yet.
This sub wave which I have as (c) on the chart in order not to create a confusion to readers as to 1-2-3-4-5, has a specific target.
That target for me is $200,000 but let's make it a region between $150,000 and $200,000.
What that means is that once the correction that we are having now will end, the bull market will continue its course.
Of course "shrimps" must be swallowed by the "whales" or if you prefer "sheeps" must get really scared and "pigs" must get slaughtered.
So once the current correction ends, BTC will start going up again in (c) reaching the $150,000 to $200,000 target.
Then we will have a longer (in time) corrective pattern (d) and then up again in (e) to end wave 5 probably in 2022.
My target for wave 5 is around $700,000 at a minimum. We could go well above that level.
Note: I am Bullish on BTC and on some other Cryptos since they represent the future.
I am a long term investor on BTC and I always buy the dips. I do not trade BTC, I just wait for the corrections to add to my position.
All the above is my opinion and of course I could be wrong. Please proceed to your own analysis before investing.
I have placed on the chart my counts as to Elliott Wave analysis.
We already had waves 1 to 4 and wave 5 is under way.
At this period (short term) we are in sub wave (c) or (3) of wave 5 which has not ended yet.
This sub wave which I have as (c) on the chart in order not to create a confusion to readers as to 1-2-3-4-5, has a specific target.
That target for me is $200,000 but let's make it a region between $150,000 and $200,000.
What that means is that once the correction that we are having now will end, the bull market will continue its course.
Of course "shrimps" must be swallowed by the "whales" or if you prefer "sheeps" must get really scared and "pigs" must get slaughtered.
So once the current correction ends, BTC will start going up again in (c) reaching the $150,000 to $200,000 target.
Then we will have a longer (in time) corrective pattern (d) and then up again in (e) to end wave 5 probably in 2022.
My target for wave 5 is around $700,000 at a minimum. We could go well above that level.
Note: I am Bullish on BTC and on some other Cryptos since they represent the future.
I am a long term investor on BTC and I always buy the dips. I do not trade BTC, I just wait for the corrections to add to my position.
All the above is my opinion and of course I could be wrong. Please proceed to your own analysis before investing.
Comment:
Please note that time is something that we cannot measure. At the above analysis of the waves for BTC I have placed as wave 5 in 2022 which I believe but of course this can change. We could easily see the end of wave 5 in 2023. We will see as to time. What matters is the pattern and how it will unfold.
Comment:
Now there is panic: GOOD
Now there are plenty of negative comments as to Cryptos: GOOD
Now wave 5 is unfolding faster: GOOD
This week will be very important and I hope that the selloff will intensify.
Now there are plenty of negative comments as to Cryptos: GOOD
Now wave 5 is unfolding faster: GOOD
This week will be very important and I hope that the selloff will intensify.