Total market capitalization decline
1) Total market capitalization decline has confirmed. This is one more argument that the price action we see since December 2022 - is a bear structure;
I interpret the structure as an extended 4 wave of minor degree.
2) Bitcoin has gone under the 2009 trend line. This was never done before.
3) Due to massive 4-year SMAs support near 37-32k, a pattern might be more complex than straight ABC structure.
The first relatively safe entry point on BTC chart is 38k. My base scenario is 18500.
3) 5 ways down, i described in previous posting - is never the end of a structure, according to Elliot waves principle.
Good luck in your trading and have a massive profit!
I interpret the structure as an extended 4 wave of minor degree.
2) Bitcoin has gone under the 2009 trend line. This was never done before.
3) Due to massive 4-year SMAs support near 37-32k, a pattern might be more complex than straight ABC structure.
The first relatively safe entry point on BTC chart is 38k. My base scenario is 18500.
3) 5 ways down, i described in previous posting - is never the end of a structure, according to Elliot waves principle.
Good luck in your trading and have a massive profit!
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