Bitcoin – the most probable scenario

1 окт. 2022 г.

Hello, everyone!

I told you every time that the bear market bottom will be at $15-17k and this is my main scenario. Last time I showed you the positive, but less probable scenario. We counted Elliott waves for the positive scenario where the price still have not finished global wave 4 and we can wait for the pump to 28k. But the most probable scenario is that the wave 4 have been finished at 25K and now we are in wave 5.

Let’s take a look at the 1D timeframe BTCUSDT chart on the WhiteBit exchange. If wave 4 have been finished at 25K it was obviously represented as the ABC correction. Now the price is forming the global wave 5. Subwaves 1 and 2 inside wave 5 have been already finished and now the price is forming the wave 3. I assume that we are at the very beginning of wave 3 inside wave 3 inside wave 5. When the new dump will start it’s target is 100% Fibonacci extension ~ 16k. After that I expect long flat in terms of time, new slightly lower low and the insane long signal after that.

Best regards, Ivan