Bitcoin is in huge danger

If we take a look at the local bullrun which has been started in January 2023 on BTC, we can see that it has the clear 5 Elliott waves structure.

The early indication of the potential reversal is the bearish divergence with the Awesome oscillator. Here we can see even the double divergence on the 2D time frame. We use this time frame because we need 100-140 bars to correctly establish the Elliott waves cycle.

Moreover we can see that Bitcoin price's momentum reversed inside the wave 5 target zone. Therefore we have so many evidences that big crash is incoming.

Anyway we expect the local pump to at least 31K , maximum to $33500 as it was mentioned yesterday. There we will see dump anyway. Here we have two options:

1. Bull market has been started in January. In this case price will find support at $22k, at 0.61 Fibonacci retracement and continue pumping above $40k.

2. Bear market will continue below $15k for the next half of a year.

Which scenario is gonna be chosen we will decide when the price reach this target.

Best regards, Skyrex team
__________________________________________________________
🔥Please, follow us and smash the rocket🚀 button to support us🔥