TradewithLu

BTC Elliott Wave Outlook (Bearish)

Short
BINANCE:BTCUSDT   Bitcoin / TetherUS
I am bearish over the next 10 days as I think we still have one more push down to complete this 5 wave move.

There is the potential for one last push up to around 41k - 43k and if that level holds then this large 5th wave could start moving down.

Alternatively, the bulls may not be able to hold up the pressure from the bears and liquidations could cause a chain reaction resulting in a violent move down. At the moment it is very 50/50, so I am waiting for a few more days before making any trades.

If this 5th wave does unfold then I am sorry to tell you but it looks like the target for Bitcoin to bottom will be between 30k and 25k .

If the price gets down there I will 100% be buying as much Ethereum and Shiba Inu coin as I can get my hands on.

Comments

I am scaling in now, but I am expecting this to hit 30k today
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