BTC can STILL BE BULLISH after 50% drop

26 Nis 2023

Hi Traders, Investors and Speculators of the Charts 📈📉

Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year.

Before you panic, make sure you check out this idea of yesterday on Elliot Wave Theory analysis :

From the video analysis on Bitcoin, we've confirmed that the bearish cycle is over and a new wave is starting. It's not uncommon for the price to drop 50% during wave 1 of the 12345 Waves. From a macro perspective, the price will still be in an uptrend. Note that this doesn't happen in a day, or even in a week but over a coupe of weeks, sometimes even 2-3 months where it seems like BTC is not going anywhere and the weak hands are shaken up before the parabolic run which is Wave 3.

I believe Wave 2 starts when CryptoCheck START v3.5 flashes a sell:


You can swing trade the Elliot waves in wave 2, but be ready when wave 3 arrives so that you won't find yourself positionless during a parabolic run.


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CryptoCheck

27 Nis 2023

Not

We're still waiting for confirmation to see how high wave 1 can go, I'm not calling the start of wave 2 just yet