This is my bearish bitcoin count. I have a few bullish ones I can post if this get enough likes.
We could get up to 7.8/8k before rolling over for new lows.
I think this fits well with the global markets / situation currently going on
Markets are / have been risk off and btc is a risk asset
I also think this is better overall for the crypto space because it implies we're in a cycle level 2 correction as opposed to 4
I think if bitcoin were to put in a 4th here and then a 5th only to stick retail with bags at 50k to then see it retrace to 15k in just a few short years could kill the idea of retail ever coming back
A deep / long level 2 correction would be much healthier in the long run
Just my opinion though
We could get up to 7.8/8k before rolling over for new lows.
I think this fits well with the global markets / situation currently going on
Markets are / have been risk off and btc is a risk asset
I also think this is better overall for the crypto space because it implies we're in a cycle level 2 correction as opposed to 4
I think if bitcoin were to put in a 4th here and then a 5th only to stick retail with bags at 50k to then see it retrace to 15k in just a few short years could kill the idea of retail ever coming back
A deep / long level 2 correction would be much healthier in the long run
Just my opinion though
Certified Elliott Wave Analyst - Crypto - Futures - FX
Twitter: twitter.com/HovWaves
Twitter: twitter.com/HovWaves
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Certified Elliott Wave Analyst - Crypto - Futures - FX
Twitter: twitter.com/HovWaves
Twitter: twitter.com/HovWaves
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.