Bitcoin breakout incoming
Updated
Bitcoin has broken away from its mid cycle pullback aka shakeout in its 2021 bull market run. High probability mid cycle low is established now that mid cycle breakout has occurred. 2nd phase of bull market in play. Double wave into liftoff. Cycle peak approximately 150 days from mid cycle low. Price peaks in 2021 assuming low is in.
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The three rules are:Wave 2 cannot retrace more than 100% of Wave 1.
Wave 3 can never be the shortest of waves 1, 3, and 5.
Wave 4 can never overlap Wave 1.
school.stockcharts.com/doku.php?id=market_analysis:identifying_elliott_wave_patterns
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Chart UpdateMaybe possible breakout coming, breaking above the descending trendline from the ATH, which came from the bounce off the large parallel channel.
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