Bitcoin - the most probable scenario

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

Trade on WhiteBIT! Use this link to register and receive 40% of trading commissions from your invited users!

Trade easy with Smart tools
Utilize AI-enhanced SmartBot for automated decisions and SmartTrade terminal for tailored manual trades, all in one integrated platform
Get started

Similar blog posts

Experience the next level of trading efficiency