Let's talk crystal clear here; Bitcoin is in a massive uptrend, yes now is stucked/accumulating below the $100k mark, but overall is bullish AF.
In this chart I present you my Elliott Wave Count of Bitcoins bullish cycle that started from Dec. 2022 and is still on going.
Breakdown:
We're in a 1-2-3-4-5 (we're here) bullish count. Inside this last 5th wave, which you can clearly count 5 subwaves, we're on the verge of breaking this $100k accumulative period, aka. in a corrective ABCDE of the 4th wave. Once this breaks up, Bitcoin should FLY.
COT readings are also great and supporting this idea behind technicals. In the current accumulation, Fund managers went from being bearish to now being more bullish, pointing to a bullish divergence. However, I'd like to see Retailers more bearish, why? Because they always wrong, and currently they are still a bit bullish to me from what I read in the COT report.
This is why I believe we still going to see this corrective phase for a little longer, finally completing the ABCDE formation, and then RISE.
Conclusion, Bitcoin price is stuck for some time till' it breaks up and rockets to unknown price.
Trade safe!
A.FX99
In this chart I present you my Elliott Wave Count of Bitcoins bullish cycle that started from Dec. 2022 and is still on going.
Breakdown:
We're in a 1-2-3-4-5 (we're here) bullish count. Inside this last 5th wave, which you can clearly count 5 subwaves, we're on the verge of breaking this $100k accumulative period, aka. in a corrective ABCDE of the 4th wave. Once this breaks up, Bitcoin should FLY.
COT readings are also great and supporting this idea behind technicals. In the current accumulation, Fund managers went from being bearish to now being more bullish, pointing to a bullish divergence. However, I'd like to see Retailers more bearish, why? Because they always wrong, and currently they are still a bit bullish to me from what I read in the COT report.
This is why I believe we still going to see this corrective phase for a little longer, finally completing the ABCDE formation, and then RISE.
Conclusion, Bitcoin price is stuck for some time till' it breaks up and rockets to unknown price.
Trade safe!
A.FX99
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