Bitcoin macro view + Elliot wave
Simple and easy to see the cycles in this chart. Right now we are still in accumulation zone. Which is not gonna be for long. We are about to start wave 5th which is the most verticle and parabolic wave in cryptos. We gonna see ATH broken sooner than most of the retailers think.
Although for a short period of time I see price dropping to anywhere between 0.618 & 0.786 before shifting higher. On monthly we didn't get nowhere near the 0.618 which makes me believe we will see it unfolding in coming 2-4months. My personal monthly pivot is OCT/NOW before we see this shift to super bullish.
Sunny days are coming for all of the crypto community and bag holders. On the other hand, if we drop to mid 6s, people could lose confidence and panic sell all they have. This is the main reason why we will get there, to shake out weak hands and move parabolic before people start to jump on the train again.
Stay safe out there.
Although for a short period of time I see price dropping to anywhere between 0.618 & 0.786 before shifting higher. On monthly we didn't get nowhere near the 0.618 which makes me believe we will see it unfolding in coming 2-4months. My personal monthly pivot is OCT/NOW before we see this shift to super bullish.
Sunny days are coming for all of the crypto community and bag holders. On the other hand, if we drop to mid 6s, people could lose confidence and panic sell all they have. This is the main reason why we will get there, to shake out weak hands and move parabolic before people start to jump on the train again.
Stay safe out there.
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