BTC's Path To 100k... Follow Me Bitcoin! I'll Take You There.Welcome everyone,
My name is Schyler with NewWave Traders. I've been a full time trader since 2017 in the crypto markets and I help traders create a full time income for themselves by mastering a proven Elliott Wave trading system that will allow you to trade on your time and live the life you deserve. Hit the follow & like button if you'd like to make it a reality.
In this chart I pose a valid count that could take us to 100k, however, there are certain things that need to happen and invalidations that can't be broke. There is only so much time for this to develop before the symmetry of the waves gets distroyed, the 2 biggest things I'll be expecting from this count is a necessary extended wave, either (and most likely) expected in the 3rd macro wave with an extended 5th wave to give us a strong, well defined 3rd wave.
The origination of this move had a slow and very corrective looking climb to it, with an extremely shallow wave 2 that can still give an argument to a bearish outlook, however we'll stick with the trend while until it ends.
Due to rule of alteration, and the expectation of an extended 5th wave, we can expect the 4th macro wave to have a steep and fast retracement.
The retracement of the "soon to be" 4th wave from this outlook will be the determining invalidation of it at about 12.5k. With an ideal 4th wave retracement taking us to about 14.5k/16k before a projected blast off in an extended 5th wave, which would target roughly 59k/60k. After that a 4th wave brings us down to maybe 40k, and then we do another 100% 5th wave, typical of the 2017 bull run after 25-30% pullbacks which then takes us to 100k ISH.
What are your thoughts of Bitcoin reaching 100k?
Do you think this is still a corrective move or have we started the ultimate bull run to mimic good ole 2017 days?
Let me know in the comments below and don't forget to follow so you can learn how to create a full time income and live life on your terms.
To Your Success
Schyler
NewWave Traders
