BITCOIN Could Hit 80k Before Wave-B Ends (Elliott Wave)
Updated
If Bitcoin breaks the 69k resistance then wave-B could run to around 80k by Thanksgiving. This should then be followed by a large C-wave which will take us under 50k in the first quarter of 2022, before a massive run later next year.
The small Wave-c of B is still a couple weeks away from its time target, and some alts like TRX, are also still below their price targets of higher than the beginning of wave-A. Bitcoin also reversed the first sell signal we got, and the longer term momentum looks like there could easily be a couple weeks of green left before we top out.
The small Wave-c of B is still a couple weeks away from its time target, and some alts like TRX, are also still below their price targets of higher than the beginning of wave-A. Bitcoin also reversed the first sell signal we got, and the longer term momentum looks like there could easily be a couple weeks of green left before we top out.
Comment
69k remains unbroken so it is possible that this could still be topping out now.Comment
Just to be perfectly clear, we are following the chart which indicates that the market has already topped out UNLESS 69k resistance is broken. If and only if 69k is broken do we begin following the chart which indicates this could go to 80k.
As of now, we have had a strong rejection at 69k and are still solidly under resistance. It looks as though Bitcoin is readying to break the rising wedge pattern to the downside and begin a correction which could go to under 40k.
Again, 69k remains the key level to watch. If it is broken we will move to the weekly chart which suggests a move to 80k is still possible for wave-B. Otherwise, we stay on the monthly chart which is indicating a top has already formed at 69k.
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At this point I would completely eliminate the possibility that this goes to 80k from here based on this count.
If we were to go up it would be based on some other count, as this one has run out of time.
At the moment it's not looking very bullish though and I think we'll continue to see a wave-c decline as my current forecast projects.
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$FEELS CONTRACT ADDRESS: TPB97rf5YTuFGBBSGLS1umVzrSvVPHrQ7p
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