Don’t be fooled! Bitcoin is not going to the moon yet!
Congrats, it’s your lucky day. You clicked on some post from some guy and now your reward will be complete clarity as to what’s going happen. All you need to do is read the words that I wrote. Leave a like and drop comments. I’d be glad to debunk any comments that disagree with my position.
Everyone is getting bullish on bitcoin for breaking the downward trend line from 20k. However, in my eyes this just confirmed the moon launch has been delayed. There WILL be follow through on this break likely taking price up another 30%-50% (big gains for sure) but this WILL NOT follow through.
The problem is that we never completed any reasonable correction per Elliot wave. When bitcoin dumped alongside the stock the market earlier this year due to Covid, we had chance to complete a clean 3 wave corrective pattern if we would have broken down below the prior Dec 18 lows, but we didn’t.
After that, it appeared we could be working towards a 5 wave triangle correction pattern from 20k. The volume never felt right for this pattern but it appeared to be the best count. All we needed here was bitcoin to break the other way towards 6-6.5k to complete the E wave of this 5 wave pattern. If that would have happened, it would have been clear skies with 100k on the horizon. However, instead we broke to the upside, above the downward trend line, which is not good.
Now that we broke the downward trend line without any sort of clear complete correction pattern, it’s likely we are in the second (bullish) wave of a larger 3 wave correction. There should be enough momentum now to at least reach the prior 14k high, or even a bit higher, but there is no way we break 20k and confirm the bull market without having a completed a proper correction pattern. I expect a rug pull in the mid teens and then we are heading to around 2k level where we will complete the correction. This will also give us the capitulation that we really never had.
Lastly, if you look at the socioeconomic environment right now, we have complete euphoria in the stock market. With the election looming, it seems that could be the catalyst for a complete economic collapse which would sync up well for the massive bitcoin dump I am predicting.
Everyone is getting bullish on bitcoin for breaking the downward trend line from 20k. However, in my eyes this just confirmed the moon launch has been delayed. There WILL be follow through on this break likely taking price up another 30%-50% (big gains for sure) but this WILL NOT follow through.
The problem is that we never completed any reasonable correction per Elliot wave. When bitcoin dumped alongside the stock the market earlier this year due to Covid, we had chance to complete a clean 3 wave corrective pattern if we would have broken down below the prior Dec 18 lows, but we didn’t.
After that, it appeared we could be working towards a 5 wave triangle correction pattern from 20k. The volume never felt right for this pattern but it appeared to be the best count. All we needed here was bitcoin to break the other way towards 6-6.5k to complete the E wave of this 5 wave pattern. If that would have happened, it would have been clear skies with 100k on the horizon. However, instead we broke to the upside, above the downward trend line, which is not good.
Now that we broke the downward trend line without any sort of clear complete correction pattern, it’s likely we are in the second (bullish) wave of a larger 3 wave correction. There should be enough momentum now to at least reach the prior 14k high, or even a bit higher, but there is no way we break 20k and confirm the bull market without having a completed a proper correction pattern. I expect a rug pull in the mid teens and then we are heading to around 2k level where we will complete the correction. This will also give us the capitulation that we really never had.
Lastly, if you look at the socioeconomic environment right now, we have complete euphoria in the stock market. With the election looming, it seems that could be the catalyst for a complete economic collapse which would sync up well for the massive bitcoin dump I am predicting.
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