BTC Elliot Wave Count Following end of Bull Market Cycle
Updated
This is a chart showing a potential completion of an Elliot Wave pattern following BTC's ATH in Fall of last year. After the Bull Market cycle has completed the 5th wave, the asset then typically follows a 5-wave downward pattern, with the end of the 5th wave marking the "A" of an ABC correction to the entire Bull run. A smaller ABC correction upward occurs from the end of the 5th wave downward.
My thought process is that we just witnessed BTC complete its 5th wave of its first push downward in the (Zigzag) Corrective Wave, and that BTC is now poised to make its ABC correction upward before pushing down again for another (deeper) 5 wave downtrend. This would logically be the place for a BTC retrace to occur, and for "Altseason" to happen, once the Altcoins begin outperforming Bitcoin.
My thought process is that we just witnessed BTC complete its 5th wave of its first push downward in the (Zigzag) Corrective Wave, and that BTC is now poised to make its ABC correction upward before pushing down again for another (deeper) 5 wave downtrend. This would logically be the place for a BTC retrace to occur, and for "Altseason" to happen, once the Altcoins begin outperforming Bitcoin.
Note
nevermind - wave 4 went up into wave 1 territory. Missed that as this wave count goes downward. Looking for how to delete this post lol
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