I took some time to re-evaluate the corrective wave structures we had since ~$14000.
Here I break down why $7300 was the bottom - from the perspective of Elliott Wave theory.
We have completed a triple corrective combination (W-X-Y-X-Z) from ~$14000, with every wave structure broken down in detail.
Wave X can be any 3 types of corrective structure: ZigZag, Flat (running, expanded, regular), or Triangle.
According to this count, we have completed both Wave X's, with ZigZag being the first & Flat being the second.
I know we bottomed out around 3 weeks ago and this update only came now. If you're on the fence thinking if you should invest in Bitcoin for the long run, I don't see why not now.
Attached is the link to another chart of mine - which highlights the corrective wave structures we had for the past 3 weeks since the 30% run to $10,500 region.
Here I break down why $7300 was the bottom - from the perspective of Elliott Wave theory.
We have completed a triple corrective combination (W-X-Y-X-Z) from ~$14000, with every wave structure broken down in detail.
Wave X can be any 3 types of corrective structure: ZigZag, Flat (running, expanded, regular), or Triangle.
According to this count, we have completed both Wave X's, with ZigZag being the first & Flat being the second.
I know we bottomed out around 3 weeks ago and this update only came now. If you're on the fence thinking if you should invest in Bitcoin for the long run, I don't see why not now.
Attached is the link to another chart of mine - which highlights the corrective wave structures we had for the past 3 weeks since the 30% run to $10,500 region.
