Exactly! Exactly as was predicted. Bitcoin reached $21500 and crashed. I am proud that I finally learned a little bit about trading chaos approach and correctly anticipated the Elliott waves. In my last analysis I told you that that wave 5 of previous wave higher order will be finished at $21500. Today we saw the start of the wave 3 – the most impulsive wave. Let’s go!
Let’s take a look at the BTCUSDT chart 1h timeframe of the WhiteBit exchange. Here we can see that after the wave 1 have been finished wave 2 reached exactly 0.61 Fibonacci retracement before showing us the crash in the wave 3. Let’s notice that wave 3 reached exactly the 1.61 Fibonacci level and now I am waiting for the local correction to 0.61 Fibonacci level, approximately to $19k. Here will be the nice short opprtunity.
The dump have not finished, the bear market will continue to $12k. Of course I observe the market and can change my targets, but now I consider 1-2 months of dumping before the bear market end. I have been waiting for this dump 2 months earlier, but market decided to annoy me with the flat.
Best regards, Ivan
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