#Bitcoin#ElliottWave path to @saylor's $13M price target
BTC had a sharp impulsive rally for its first three waves into the late 2013 high. The rally from the 2015 low, which has a very different slope and which does not appear impulsive, makes sense as a massive ending diagonal that targets $15M.
In this interpretation, price is in wave III of (V) from the 2018 low and my primary count entails BTC in the latter stages of wave (1) of Primary C of III. However, I can make a case for a complete 5 up into the December 2024 high and a very shallow wave (2) of Primary C into the April low as shown in green. This would entail a very shallow (2) and as such it's my alternative count..however BTC>$330k, and it becomes my primary
The Primary Count is suggestive of a significant top nearing and price getting a multi-month decline to retrace the rally from the 2022 low and form a higher low for wave (2). The main area I'm watching within this perspective is $28k-$37k to shake everyone out before the move to $1M+
#Bitcoin's path to $1M: Details here: https://t.co/NIZFdaFFeW
I've got two paths I'm tracking for BTC to $1M+. In my preferred path, price should form a significant top in the coming weeks and then get a multi-month pullback into $28k-$37k. If this occurs, I see such a prospect as a phenomenal buying opportunity. In the less preferred more accelerated path BTC heads to $1M more directly without breaking back below $75k~ (April low)
#Bitcoin#ElliottWave path to @saylor's $13M price target
BTC had a sharp impulsive rally for its first three waves into the late 2013 high. The rally from the 2015 low, which has a very different slope and which does not appear impulsive, makes sense as a massive ending diagonal that targets $15M.
In this interpretation, price is in wave III of (V) from the 2018 low and my primary count entails BTC in the latter stages of wave (1) of Primary C of III. However, I can make a case for a complete 5 up into the December 2024 high and a very shallow wave (2) of Primary C into the April low as shown in green. This would entail a very shallow (2) and as such it's my alternative count..however BTC>$330k, and it becomes my primary
The Primary Count is suggestive of a significant top nearing and price getting a multi-month decline to retrace the rally from the 2022 low and form a higher low for wave (2). The main area I'm watching within this perspective is $28k-$37k to shake everyone out before the move to $1M+
#BTC#Bitcoin BTCUSD: Pattern off of Thursday's high looks like a potentially complete 5 down which entails reasonable prospects that the entire correction has completed. In order to favor that and avert lower lows, we'll need a 5 wave rally through today's high, followed by an impulsive move through the 3/3 high.
I added to my longs today.
Bigger picture, so long as BTC is maintaining above the November low ($66k~) I still prefer higher levels to come within this cycle, targeting $125k+
@harrydunn88 Similar idea here, I'm playing for a sizable retrace lower ( 21525at a minimum) but waiting for a sweep and rejection of the Christmas high, 22110