Bitcoin Mid Term Elliottwave Theory - Regular Scale
מעודכן
Hi fans (if I still have any),
It has been a very long time now, and for that reason I want to kick of with a mid term count.
As you can see on the chart, I prefer to focus on the path we have been through. IMO focus should be more on the past and the now, and less on the future which isn't easy to predict in any market. When the future evolves the counts become clearer, so for now let's focus on what we an see already.
Since this is a mid term count, I cannot dig deep into the subdivisions of every wave. However, you can be rest assured, I have subdivided every wave and every sub wave of entire count from start to end, like I always do. Each and every one of my counts have been subdivided at least up until the hourly if not deeper. When the time comes I will give you a deeper look into the smaller time frames of the current price action, for now though, I think it's important to start with the bigger picture.
This count is losely based on a fellow colleague/member of the TradeDevils community, who has been counting Bitcoin this way for months. Due to the PA we have seen over the last couple of months and the situation we are now in on the smaller time frames, I think it is highly likely that our fellow member James was right from the start. Some of the reasons why I chose to chart like this:
Entry levels that align with this count are depicted as the 0.382 fibonacci support lines, as well as what we call the golden zone pocket box between the green fibonacci support lines. This conveniently alligns with our prior mid term high which as the rule suggests should be past resistance turning into current support. This all together forms a nice buying opporunity in the white box stretched from 40.5k to 43.5k USD.
As always, I am not your financial advisor. If I were, I would charge you 200 USD an hour. Do your own due dilligence, and trade at your own risk.
It has been a very long time now, and for that reason I want to kick of with a mid term count.
As you can see on the chart, I prefer to focus on the path we have been through. IMO focus should be more on the past and the now, and less on the future which isn't easy to predict in any market. When the future evolves the counts become clearer, so for now let's focus on what we an see already.
Since this is a mid term count, I cannot dig deep into the subdivisions of every wave. However, you can be rest assured, I have subdivided every wave and every sub wave of entire count from start to end, like I always do. Each and every one of my counts have been subdivided at least up until the hourly if not deeper. When the time comes I will give you a deeper look into the smaller time frames of the current price action, for now though, I think it's important to start with the bigger picture.
This count is losely based on a fellow colleague/member of the TradeDevils community, who has been counting Bitcoin this way for months. Due to the PA we have seen over the last couple of months and the situation we are now in on the smaller time frames, I think it is highly likely that our fellow member James was right from the start. Some of the reasons why I chose to chart like this:
- I don't belief we have topped our macro COVID wave due to the fact that too many institutions are still buying in and media attention has been higher in the past.
- I don't belief that the pattern as it has been shaping for now can make this correction last for >6 months which is what you would expect after macro COVID wave tops out.
- Since May 2020 (if not earlier...) I have been sharing with you that my 2022 target is 430k usd per BTC, this still stands Today, although it might be for 2023 instead. This would become less likely if our COVID wave has topped already, and more likely if it tops closer to 100k USD.
- I strongly belief that this rise in media attention we have been getting since Tesla bought BTC is going to continue and temporarily peak when we near or break 100k USD
- I currently use regular scale instead of log scale as the COVID wave in my eyes isn't finished yet, the next correction which might take north of half a year to complete will be in log scale.
Entry levels that align with this count are depicted as the 0.382 fibonacci support lines, as well as what we call the golden zone pocket box between the green fibonacci support lines. This conveniently alligns with our prior mid term high which as the rule suggests should be past resistance turning into current support. This all together forms a nice buying opporunity in the white box stretched from 40.5k to 43.5k USD.
As always, I am not your financial advisor. If I were, I would charge you 200 USD an hour. Do your own due dilligence, and trade at your own risk.
הערה
There is enough evidence to say that the low should be in. Luckily my main mid term count was a flat correction, which did not align with my long term count. Due to this flat that I have had open for many weeks, I also bought the bullish divergence we had at 47k, the ride has been going better than expected. Due to my long term 4 expected price range als I pictured above, I thought that my flat mid term count as pictured below would be invalidated at a certain point, making me force into an ending diagonal towards the ATH, luckily for us it seems bulls are super hyped and bought that flat low like there was no Tomorrow. Here is the count I used ever since we had our 61.8k wave 3 high. 
כתב ויתור
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