Extreme Caution with Elliot Wave Theory

25 янв. 2023 г.

Elliot wave theory dictates markets move in 5 Waves followed by a corrective 3 wave move.

Here it is marked for you with divergences and correct ruling, using logarithmic growth for confluence.

So if you have been sick of hearing 'But this time it's different' well, because it truly could be. The elliot wave theory projects itself at our time of need where we ponder if Quantitive tightening, Recession and War will affect the price movement of Bitcoin. Remember, Bitcoin has only existed during Quantitive Easing and generally uptrending markets. I urge you, have a really good think about the MarketCap of Bitcoin in relation to other assets. It seems ridiculous to be worth over $400 billion. There is potential, however, if the banks fail and a social credit system is enforced in the future for BTC to have an extreme marketcap and value but those things are many moons away and there are not strong enough signals that this will come to fruition.

As always, I do not expect the specific price levels to hit but wherever price ends up in relation to these trendlines and based on Time Cycles in which we expect a Recession to appear in late 2023/ Early 2024 and for the markets to bottom in the 12-18 month zone of the Recession.

I expect an aggressive A wave funded by short squeeze and I expect that heavy regulations will divert money from altcoins into bitcoin.

BUT THE HALVING - YOU ARE WRONG - THE HALVING IS BULLISH....

- my dear friend:

if the bitcoin rewards get cut in half...
and the cost of electricity and/or mining equipment has triple to quintupled
and mining bitcoin is now 6-10x less profitable
then the halving
is not bullish
but bearish
#sellthenews