Since the low on November 22, 2022, bitcoin has already gained over 50% in value. Nothing unusual for the crypto world, but this time it seems to be an impulsive 5-pointer. This means that the bear market may be over.
According to my Elliott wave analysis, we have now seen the low in bitcoin at $15482.03. Should we build a clean 5 divider - meaning bitcoin reaches at least the 261% extension at $23.985 before the next correction, we should see sustained further gains.
Under no circumstances should bitcoin fall below 18377$ before reaching this extension. If that happens, then we are still in a bear market.
What do you think about the bitcoin? Do you think we have already seen the low?
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