BTC entering the disbelief phase! Elliot Wave Analysis
Change my mind!
After every bear market there is a decent pump followed by many investors losing hope in their investments. This usually coincides with a lot of positive media coverage, which is something that Bitcoin has been seeing a lot of recently.
We have seen prices rise dramatically from ~3k all the way into the ~
13K zone without any real pullback. Such a pullback, likely to the zones that we have targeted on our chart, is absolutely necessary for future healthy growth in any market.
Using Elliot Wave Theory my view on this necessary correction is strengthened even more. Bitcoin had a 5 wave trend upwards and needs to be followed by an ABC correction. When Bitcoin does correct I see the lower target zone as the most likely area for the correction to be completed. The lower zone is probably where people will be most in denial and fear that Bitcoin will not succeed. Many will see that correction as a continuation of the bear market.
They will be wrong. Smart money will be buying at these levels.
Follow me on Instagram and check out my website for daily analysis like this!
@crypto_planet_vip
cryptoplanet.cash
After every bear market there is a decent pump followed by many investors losing hope in their investments. This usually coincides with a lot of positive media coverage, which is something that Bitcoin has been seeing a lot of recently.
We have seen prices rise dramatically from ~3k all the way into the ~
13K zone without any real pullback. Such a pullback, likely to the zones that we have targeted on our chart, is absolutely necessary for future healthy growth in any market.Using Elliot Wave Theory my view on this necessary correction is strengthened even more. Bitcoin had a 5 wave trend upwards and needs to be followed by an ABC correction. When Bitcoin does correct I see the lower target zone as the most likely area for the correction to be completed. The lower zone is probably where people will be most in denial and fear that Bitcoin will not succeed. Many will see that correction as a continuation of the bear market.
They will be wrong. Smart money will be buying at these levels.
Follow me on Instagram and check out my website for daily analysis like this!
@crypto_planet_vip
cryptoplanet.cash
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