BTC seems that has been in a deep correction since November 2021

In Elliot's wave theory, no essential role is played by funtamentals or any other micro or macro economic elements. It is rather the occasion for the baton to change from bulls to bears and vice versa. Thus, BTC, after an impressive wave lengthening run (3), ended up in a rather truncated wave (5) in November 2021 and since then has begun an ABC correction, with wave A ending at 50% fibo and we are at this time, in the progression of wave B.

코멘트:

It is obvious that a cycle of 5 waves inside wave B has been completed. But this does not mean that wave B has been completed when 50% fibo has just been worn. If so, then we are talking about an acute ABC correction, shorter in time and possibly deeper. In any case, the pair does not lend itself to opening a buy or sell position at this time and until the direction of the correction is clear.

코멘트:

코멘트:

Bitcoin’s best days seem to be past....

코멘트:

A short-term upward move to the $28,100 area of 2/(b) is not worth the risk/return as the trend is downward.

코멘트:

코멘트:

코멘트:

We have to keep in mind the big picture

코멘트:

If the count is acurate, in case that the invalidation will be broken up, then it's more likely, the green arrow will be the alternative target for the wave (B).

코멘트:

This scenario prevail if the pair keep going to trade below of 31818. So, this price is crucial.

코멘트:

update

코멘트:

코멘트:

Two scenarios for BTC. 1. Red arrows 2. Blue arrows.

코멘트:

The invalidation of 31.800 no longer exist. So the unfold of wave C of B circled is in progress

코멘트:

A little beat more higher (40.000 area) before bulls give up to the bears...

코멘트: