The Bitcoin price is following my scenario which I pointed out last time. Let’s continue do our exercises with the Elliott waves and try to anticipate the targets for potential bounce.
Let’s take a look at the 4h timeframe BTCUSDT chart of the Whitebit exchange. The price now is in global wave 5 of the bear market and the wave 1 inside this wave 5 have been already ended in my opinion. Why? Let’s look at the structure of this wave 1. We have subwave 1, short subwave 2, impulsive subwave 3, long wave 4 in terms of time and the wave 5 which ended with the confirmed divergence with the awesome oscillator. Now I am waiting wave 2 which have the main purpose is to collect liquidity of short traders above the $22000 before the new crash (wave 3). We have also the Fibonacci retracement target at $22300 (Golden pocket) which will be reached in couple of days with the high probability.
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