On EW-Analysis we sould see 21k in a standard 61.8% correction This is a possible scenario of Price action based on Elliott-Wave analysis. The correction behavior of BTC is that usually it overshoots the correction levels. in 9 of 10 cases it did that in the past until 2018 in the lower wave counts. If it comes this way, it offers better buying prices. From hte anti crypto political development in the US, there is no reason to believe for now that BTC might turn up from here, and go on rise. This scenario is valid until BTC breaks 30k upsides. Until then I tend to stay bearish until we see 21k or below.
Bitcoin-elliott
BTC Q4 Wave First,
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Ok i will make it brief,
This is my Q4 debut to the end of 2021
We are going to seeing Btc at te end of December reach $117k - $124k.
You may think that i fomo or got crazy,
Let me explain you why and the most reasons.
As you know, the relative analysis of Elliot Wave had always got 90% of the probability thats its follow the results of the analysis.
Mine is one of them, but a bit different that a lot. I take all counts in the recents datas not only the past cycles.
Now we saw and surely understand that Btc has increased his speed accumulation, the most reason of thats it the return of his popularity. Remember after the big crash in April, a lots of newbies got scared and lost a lot when its happened and then leaving the market.
They are starting to back at the past weeks (2) , we also now have so much more big investors that jump on the cryptocurrency and leaving the stocks because as you know the stocks market are collapsing. Im not saying that its will not impact the crypto market, its will same as every but the crypto always proud that its much more faster recovering that any others markets.
Now lets back into the chart,
This is my 3 important point averages for
Uptober $89,640
END November $64,000
END december $117k
But did we are going to have another big correction that will bring BTC dip between $47k - $39k ?
I believe that the next correction will be between 19th to 25th. I saw the higher high of Btc during Uptober reaching $66k and the next week and then as i said got a correction and then we are back btw $59k - $61k after thats Btc will do the same as always uptrend to $62,700 - $64,200 and play on this next accumulation zone to close the month of Uptober.
How about November did will have also a correction?
Yes, its will come with the next Moon, its easier for everyone that learn the principles of this indicators, the moon are changing every 14-16 days. You will seeing clearly that after reach $84k we are going to drop at $77k to retrace and valid the supports passed, once finish starting a new uptrend slowly but surely to close November between my average.
December $117,000 - $ 124,000 ITS CRAZY!!
Not much as you think, remember that Bitcoin as i said had accelerate his speed during Each phases of accucmulation and correction since we started Uptober. Popularity and new arrival of big investors will increase his bounce, that will become more stonger and high weeks after weeks.
Hope you got the plan, if you are with me:
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EWT-4hrs chart for BTC on long side entry levels.Buying above 9900 of 3rd Wave , for Target 10900/11500
Risky traders , can buy 9396-9260 for the same targets (10900/11500). Targets 10120-10400 if you don't want to hold longer time period.
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PART (i)
PART (ii)
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Kinnari + Elliott's wave theory (5 + 3 = Waves), Bitcoin!Attention to the rhythm of the wave for bitcoin.
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Kinnari + Elliott's wave theory
5 + 3 = Waves
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The price is under Wave A, B, and C.
ABCDE, Triangle leading by 2-wave.
The "Parallel Channel" is respected wave 2 and waves 4 and parallel towards 3-wave.
You have figured out that Wave 4 would normally retrace 0.618% of Wave 3.