Bitcoin seems to be in its final and fifth wave down. Since this is no longer a correction, but a bearish
downwards momentum, the fifth wave of the Elliott wave principle in combination with fibonacci, dictate that the bitcoin price could
go as low as 3k.
-At this point, the RSI is oversold, a retracement will happen in the upcoming days (also based on MACD).
-Market will continue its decline towards its previous low of approximately 6.2k USD.
-Price will bounce from this level and again retrace.
-Final leg down will end between 3k and 4.5k USD.
Disclaimer: This is of course over a very long term and will probably not happen exactly like this. I do believe
BTC will head towards 3k-4.5k levels but how long it will take and where exactly retracements occur is very uncertain.
downwards momentum, the fifth wave of the Elliott wave principle in combination with fibonacci, dictate that the bitcoin price could
go as low as 3k.
-At this point, the RSI is oversold, a retracement will happen in the upcoming days (also based on MACD).
-Market will continue its decline towards its previous low of approximately 6.2k USD.
-Price will bounce from this level and again retrace.
-Final leg down will end between 3k and 4.5k USD.
Disclaimer: This is of course over a very long term and will probably not happen exactly like this. I do believe
BTC will head towards 3k-4.5k levels but how long it will take and where exactly retracements occur is very uncertain.