Technical analysis

    Bitcoin – Correction has been completed! New bull run started.

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    Bitcoin on the 4h chart
    • As per my Elliott Wave analysis, an ABC correction ( ZigZag ) has been finally completed, and we have to start a new impulse wave! Now or never.
    • We have a falling wedge pattern that is very close to a breakout. Indeed, this is definitely not a nice wedge , but the shape is similar.
    • The previous first impulse wave has a third wave overlap structure, which is definitely acceptable. It’s pretty rare to see it, but Elliott said it’s possible.
    • Bitcoin’s dominance is going down – LTCBTC is breaking out of the major downtrend from 2018. ETH looks much stronger together with BNB. This indicates an alt season in progress.
    • I am bullish on Bitcoin and on the stock market, and I don’t think we will go to 13 000 USDT. Prepare for the 10-year biggest bear market in Bitcoin history if we fall to 13 000 USDT.
    • https://www.tradingview.com/chart/BTCUSDT/73PhOpVt-Bitcoin-Correction-has-been-completed-New-bull-run-started/
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    Professional trader and analyst. My specialization is in Elliott Wave Theory, Fibonacci tools, chart patterns, candlesticks, and price action. To analyze market structure, I use market profile and volume profile in my trading system. To analyze trends, I use trendlines, VWAP, and simple moving averages.