Bitcoin – the bear market end soon!

04.03.2022 10:56 pm

Hello, everyone!

My yesterday trade hit stop loss – OK, I lost just 1% of depo. I told that this trade was not executed by my strategy. Now I am sure that I have to use only signals which was generated by my strategy.

Today I suppose that I understand which scenario the Bitcoin chose for this bear market. We will see the bottom next 3-6 months. The 5-waves Elliott downside cycle is forming now on the Bitcoin. And now we are probably at the 4-th triangle corrective wave. The price did not brake the previous local high – this is the evidence for the potential A-B-C-D-E correction. If we take a look at the whole downside impulse Fibonacci retracement we can see that the price was rejected exactly from 0.38 Fib. The final target for the wave 5 and the entire bear market is Zone 27 fib extension ($24k-$26k). Now I am searching for the short entry.

Good luck!

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