Since the low on November 22, 2022, bitcoin has already gained over 50% in value. Nothing unusual for the crypto world, but this time it seems to be an impulsive 5-pointer. This means that the bear market may be over.
According to my Elliott wave analysis, we have now seen the low in bitcoin at $15482.03. Should we build a clean 5 divider - meaning bitcoin reaches at least the 261% extension at $23.985 before the next correction, we should see sustained further gains.
Under no circumstances should bitcoin fall below 18377$ before reaching this extension. If that happens, then we are still in a bear market.
What do you think about the bitcoin? Do you think we have already seen the low?
According to my Elliott wave analysis, we have now seen the low in bitcoin at $15482.03. Should we build a clean 5 divider - meaning bitcoin reaches at least the 261% extension at $23.985 before the next correction, we should see sustained further gains.
Under no circumstances should bitcoin fall below 18377$ before reaching this extension. If that happens, then we are still in a bear market.
What do you think about the bitcoin? Do you think we have already seen the low?