Bitcoin / TetherUSShort
Bitcoin cycle top potentially reached
Updated
This cycle ends with an ending diagonal at 68 k. I expected the top to be a little higher at around 75 k but short and long term the elliott wave count is potentially completed. Next short term stop could be 48 k. The long term is unpredicable but this could be the first major correction of the bitcoin price. I rather watch the markets step by step, so let's see what surprises this market brings. It could have to do with Dr. Craig Wright and BSV but I will make another analysis for that subject.
By the way, the analysis on btc goes hand in hand with the stock market. Altcoins and small cap stocks can go different ways sometimes but many alts already broke down, so I would be very careful.
By the way, the analysis on btc goes hand in hand with the stock market. Altcoins and small cap stocks can go different ways sometimes but many alts already broke down, so I would be very careful.
Note
Now it looks like a perfect running flat (3-3-5) appeared as wave four. The previous wave five was just a wave b (abc). That means a wave five to 120 k - 150 k is likely. Every price drop causes too much fear, which indicates to me that whales need new all time highs for exit liquidity. I also have a feeling that Satoshi is waiting for that euphoric price surge to sell. He knows how sensitive the market will react when those 1,1 mio coins start to move. Hence why he needs the market to be blind of greed. Obviously he was playing the time card by confusing people and not moving coins to leave traders uncertain.
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