Retracement now is likely before moving up again to finish this very first impulsive wave up of the primary wave 3.
We are still in a bull market despite the 75% correction from all time high - we did not breach the 20 day EMA on the monthly
My previous post is a very quick and untechnical count. I have revised this to make the Fibs and Elliot Waves match - to see where the trading bots are setting their targets. Like most other people, I expect a retracement and then another wave upwards. This looks very bullish
Think this is the count though - bearish
I am bearish on NASDAQ as well
Wave 2 and Wave 4 of the primary count both retraced to the 0.618 level. I expect the primary correction wave to end on the same level. Wave 3 and Wave 5 of the primary count hit the Fib levels to the tick. This is not coincidence. I am EXTREMELY bearish on Dow Jones right now. I cannot stress this enough.
This Elliot Wave count has the Fibonacci and Elliot Waves aligned are hitting on the tick. The 3-3-3 count means that the correction is over.
If this level gets breached, brace for impact.
The only anomaly is that the Wave Y sub-wave B has a sub-wave of impulsive 12345 instead of ABC. Other than that, this looks very clean.
This pair is ignoring a lot of the Fib regions and resistances.
Bitcoin should fall within 3,500 to 50,000 USD price this year. I personally think that Bitcoin will reach a bottom at 4,800-4,900 in next 3 months and then work towards breaking all resistances near the end of this year. Target will be 30,000 for me, but I might be wrong and CEO of Bitmex Arthur Hayes might be right and we reach 50,000 USD. I really do not...
Think we just entered Phase B and ready to test the support again