Another correction before the final pump to 100K+ BTC ?
Hi all, my first post here.
I did an Elliot wave count on bitcoin since the end of the 2018 bear market, where the next bull run actually began. Looks like we are still in the corrective 4th wave of the long-term bull phase. And the recent drop could have started the c wave correction of the final phase of the 4th wave. What do you guys think? To support the thesis, one can also see the momentum divergences and volume divergences that mimic the April-May carnage on the charts. Not trying to push fud around but just some technical analysis. I know that the on-chain metrics and yadi yada are bullish and all, but that ain't stopping whales to dump their bags. Hodlers can chill but 50X longers need to keep an eye out.
Not Financial Advice, have a great Sunday :)
I did an Elliot wave count on bitcoin since the end of the 2018 bear market, where the next bull run actually began. Looks like we are still in the corrective 4th wave of the long-term bull phase. And the recent drop could have started the c wave correction of the final phase of the 4th wave. What do you guys think? To support the thesis, one can also see the momentum divergences and volume divergences that mimic the April-May carnage on the charts. Not trying to push fud around but just some technical analysis. I know that the on-chain metrics and yadi yada are bullish and all, but that ain't stopping whales to dump their bags. Hodlers can chill but 50X longers need to keep an eye out.
Not Financial Advice, have a great Sunday :)
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Hey guys, looks like this is following through with the world markets selling off. Last buy the dip time frame is potentially on its way before 100k+ BTC. Stay safe!