10K Bitcoin - Argument
BTC price action and targets were correctly called. Elliot Wave Theory proved practical, and the 20K target was reached. TA from 7 months ago: 
Some Bulls are arguing this is the bottom. This post will explain why 10K is reachable: -Fundamentals: Inflation, rising interest rates, recession talks, geopolitical events including War, commodity pressure... -Coupled with the Stock Market. Sell pressure > buy pressure based on inflow/outflow data of NASDAQ/S&P 500. -Cup & Handle Formation on the DXY; Bullish for the $, bearish for securities. -BTC average decline = 85% = ~$10,000 -200 Month EMA = 10,000 |1000 Week EMA = ~9,000 -Low volume; Increased volatility -Downward room remains on indicators: Monthly RSI target of 30. - Elliot Wave Double Three: Double three is a sideways combination of two corrective patterns. When corrective patterns are combined (zigzag/flat/triangle), we get a double three. Wave Y can not pass 161.8% of wave W In Bitcoin's case, we had a combination of 2 WXY patterns and an ABC correction pattern to create a macro WXY. When taking the Fibonacci's of both micro and macro W, we get a price target in the 10K range. Testing 10K, thus, is expected. https://elliottwave-forecast.com/wp-content/uploads/2017/01/double-three3.jpg
Some Bulls are arguing this is the bottom. This post will explain why 10K is reachable: -Fundamentals: Inflation, rising interest rates, recession talks, geopolitical events including War, commodity pressure... -Coupled with the Stock Market. Sell pressure > buy pressure based on inflow/outflow data of NASDAQ/S&P 500. -Cup & Handle Formation on the DXY; Bullish for the $, bearish for securities. -BTC average decline = 85% = ~$10,000 -200 Month EMA = 10,000 |1000 Week EMA = ~9,000 -Low volume; Increased volatility -Downward room remains on indicators: Monthly RSI target of 30. - Elliot Wave Double Three: Double three is a sideways combination of two corrective patterns. When corrective patterns are combined (zigzag/flat/triangle), we get a double three. Wave Y can not pass 161.8% of wave W In Bitcoin's case, we had a combination of 2 WXY patterns and an ABC correction pattern to create a macro WXY. When taking the Fibonacci's of both micro and macro W, we get a price target in the 10K range. Testing 10K, thus, is expected. https://elliottwave-forecast.com/wp-content/uploads/2017/01/double-three3.jpg
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