The bottom is coming for Bitcoin (12106 = 10672)
Hi guys,
We previously talked about the collapse of Bitcoin before it reached the 69,000 areas, and you will find that in the previous analyses.
Now we present to you what we consider to be the end of the collapse and the beginning of the Bitcoin investment wave as it reaches the end of the long correction wave.
According to the drawing in front of you, the correction is a double zigzag.
We currently believe that Bitcoin has finished the bullish wave at level 31800.
We have entered the final bearish wave, the target of which will be approximately at the end of the wave (12106 = 10672).
Double Zigzag (W X Y)
As is clear in the drawing, the calculations for wave Y
Wave Y = .618 Wave W == 25890
Wave Y = Wave W == 12106
As for 10672,
it is equivalent to 1.618% of the length of the large wave
Therefore, I think that the bearish target for Bitcoin will be at approximately (12106 = 10672) level.
Good luck, guys
Moneer 618
We previously talked about the collapse of Bitcoin before it reached the 69,000 areas, and you will find that in the previous analyses.
Now we present to you what we consider to be the end of the collapse and the beginning of the Bitcoin investment wave as it reaches the end of the long correction wave.
According to the drawing in front of you, the correction is a double zigzag.
We currently believe that Bitcoin has finished the bullish wave at level 31800.
We have entered the final bearish wave, the target of which will be approximately at the end of the wave (12106 = 10672).
Double Zigzag (W X Y)
As is clear in the drawing, the calculations for wave Y
Wave Y = .618 Wave W == 25890
Wave Y = Wave W == 12106
As for 10672,
it is equivalent to 1.618% of the length of the large wave
Therefore, I think that the bearish target for Bitcoin will be at approximately (12106 = 10672) level.
Good luck, guys
Moneer 618