Bitcoin crashed significantly, as I warned you in one of my previous analyses:
What now? Is the crash over? I don't think so! The halving event is in a few days, and huge volatility is expected. The problem is that below the current price, we have a double bottom pattern, and there is a lot of liquidity that whales need for their huge buy orders. It's really very likely that the market is going to go down! What's more, we have a fair value gap below the current price as well, and usually these gaps tend to be filled sooner rather than later.
It's always important to do an Elliott Wave analysis before making such statements. If we take a close look at the price action, we can see that the impulse wave 12345 was completed and we are in a corrective phase. We need to complete this ABC correction before going higher to an all-time high! Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
What now? Is the crash over? I don't think so! The halving event is in a few days, and huge volatility is expected. The problem is that below the current price, we have a double bottom pattern, and there is a lot of liquidity that whales need for their huge buy orders. It's really very likely that the market is going to go down! What's more, we have a fair value gap below the current price as well, and usually these gaps tend to be filled sooner rather than later.
It's always important to do an Elliott Wave analysis before making such statements. If we take a close look at the price action, we can see that the impulse wave 12345 was completed and we are in a corrective phase. We need to complete this ABC correction before going higher to an all-time high! Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
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It can be nasty guys, hope you are ready for what's coming!
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Bitcoin is down 6% since I posted this analysis. From 66016 to 63230. The halving crash is a real thing, soon we will see!
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Another sign of weakness is the monthly chart. The last candle is red, which is the first red candle since September 2023!
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Elliott Wave count on the higher time frame:
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Bitcoin is down 10% since my call... expecting more crash!
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Is this the countdown to the next crash?
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Bitcoin halving the price.
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BTC.D (Bitcoin Dominance) is still bullish, expecting the chart to hit max 60%! It will probably never go beyond this level.
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Bitcoin should go down to complete this bullish flag:
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