In Elliot Wave Theory, a bullish impulse has a total count of 5 waves but this isn't all. There is something called an "extension." Extensions can lead not only to 9 total waves but even 13 waves.
We can easily see this happen if we consider Bitcoin's bull market based on the long-term chart structure, starting in November 2022, see the chart above.
A bull market is defined as a sequence of higher highs and higher lows. This is perfectly visible on this chart. Contrary to many Altcoins, Bitcoin is in a long-term bull market.
If we consider even some of the big Altcoins projects, we can see that no long-term bull market is present, many are producing lower lows, but at the same time, others are producing long-term uptrends like Tron. So there are variations.
Seeing a perfect long-term 5 waves pattern completed when Bitcoin hit $110,000 in January 2025, seeing a strong higher low and the continuation of this trend, we can easily conclude that an extension is taking place.
Will this extension end at 9 waves or 13 waves?
Bitcoin is going up. It is already happening. There will be more.
Thank you for reading.
Namaste.
We can easily see this happen if we consider Bitcoin's bull market based on the long-term chart structure, starting in November 2022, see the chart above.
A bull market is defined as a sequence of higher highs and higher lows. This is perfectly visible on this chart. Contrary to many Altcoins, Bitcoin is in a long-term bull market.
If we consider even some of the big Altcoins projects, we can see that no long-term bull market is present, many are producing lower lows, but at the same time, others are producing long-term uptrends like Tron. So there are variations.
Seeing a perfect long-term 5 waves pattern completed when Bitcoin hit $110,000 in January 2025, seeing a strong higher low and the continuation of this trend, we can easily conclude that an extension is taking place.
Will this extension end at 9 waves or 13 waves?
Bitcoin is going up. It is already happening. There will be more.
Thank you for reading.
Namaste.
Trade active
The million dollar question and the question everybody is asking right now, wondering right now is: Will Bitcoin resume growing right away or is there lower prices before the resumption of the bullish move?Ahh.... Another short-term question. Everybody knows that it is impossible to predict the short-term. Let us see what the chart says.
—Ok. Chart... Speak to me!
The chart is telling me that it is too early to judge such a scenario.
—Bitcoin, what do you say?
There can be some consolidation, lower is not a big probability cause. Not much lower, more likely some sideways in the worst case scenario followed by up.
Ok. Bitcoin is saying that the bulls win and we can expect additional growth.
If you agree, boost, comment and follow.
Thanks a lot for your continued support.
Namaste.
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➢ FREE PREMIUM Trades + Top Results
t.me/anandatrades/1183
➢ FREE Quality Content + New Results
t.me/masteranandatrades/6172
➢ Go beyond! PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
t.me/anandatrades/1183
➢ FREE Quality Content + New Results
t.me/masteranandatrades/6172
➢ Go beyond! PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.