- There are currently 3 options with a high probability of happening:
- 1) Bitcoin will crash very soon, so after that we can start an alt-season on altcoins after the crash to 13k (best option).
- 2) Bitcoin will go sideways for another 3 months and create a descending triangle , which will be the most boring time (you don’t want it).
- 3) Bitcoin will go slightly up to the yellow trendline to catch all traders in a trap and then it will crash (disgusting scenario).
- 4) The bottom is in and Bitcoin will reach 200 000 USDT next year (no chance).
- Bitcoin is below all possible trendlines on the macro scale, so the bearish pressure is extremely high at this moment!
- Pretty much no one is talking about this parallel channel on the LOG scale. Also, no one is talking about the yellow trendline.
- But I would not be surprised at all if we break this parallel channel , because at this point, everyone will turn super bullish and after that, Bitcoin will drop like a rock.
- To complete an impulse structure from an Elliott Wave perspective, the price needs to print another impulse sub-wave to the downside.
- At this point, if we break 30 000 USDT, I can say that the bottom is in, which I would love to absolutely!
Bitcoin – No one is talking about this!
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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.