Long-Term Elliott Wave Count on Bitcoin

27 Tem 2020

BTCUSD

Bitcoin started a Long-Term Bull Market on December 2018, after an 11-month Bear Market. It climbed from about $3,100 USD to about $13,900 USD, in a 5-wave structure, a move that I will call Intermediate Wave 1, that lasted about 7 months.

After that, we had about a 9-month correction, from about $13,900 USD to about $3,900 USD, in a 3-wave structure, a move that I will call Intermediate Wave 2.

And now we are inside Intermediate Wave 3, a move that should take us to about $20,000 USD, if not higher.

Within Intermediate Wave 3, we already had Minor Wave 1, Minor Wave 2, and we are inside Minor Wave 3, which is in progress. Minor Wave 3 could take us all the way to $19,500 USD, if the length of Minor Wave 3 is 1.618 the length of Minor Wave 1.

This pattern is confirmed with a move above $10,500 USD today, the February 2020 highs, and a mayor resistance. Also, above the top of Minor Wave 1.

Minor Wave 1 took about 84 days. Minor Wave 3 should be shorter in time, but longer in length. Meaning, it should take less than 84 days to reach the target of $19,500 USD. We’ll see.

Of course, nothing is guaranteed, but it looks like it could still have a long way to go.

I hope you find this interesting, and good luck to you.

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