...but I'm probably wrong.
BITCOIN seems to have finished a 5-wave bullish cycle, although the fifth has been quite "poor" in terms of performance in my opinion, as we all expect a more extended wave.
However, what strikes me is that if we are at the end of the cycle, this would mark the end of a supercycle (in yellow).
The end of the cycle has been characterized by a wide retracement, reaching 80%, which would put us, applying FIBONACCI, around $33,000, however, if we were living the top of the supercycle, and taking the same retracement, this would leave us with a floor around $23,000...
Perhaps it is a bit early to anticipate it, but this last wave 5 has been unexpected in terms of expected scope and, in addition, we should be able to enjoy a bit more of a bull-run if we take into account the history etc..., however, the wave count could make sense...
The truth is that I wouldn't see it as disappointing; it would give me more time to accumulate BITCOIN at a good price and wait for the start of a new supercycle that dwarfs the previous one.
What do you think?
Even if this is a top in this cycle, the corection wont be as the previous ones, since the upwards has also been smaller .... in other words less volatily ... less up, less down...
But I do think there is a good chance to go higher towards the end of the year, offocurse if all other factors are in line ... global economy etc
well who knows- but i tend to think that the number would b a little higher & that with the $108857.4 peak- the bottom of the cycle would b around $47591 f btc moves the way it used to "historically", but the thing is that with the pro crypto politicians & laws that for example resulted n btc ETFs & with the countries- giant firms & banks- adopting & investing n btc- won't all this affect or break the 4y cycle ? i think yes all this will affect the pattern & make it dependent on much more factors- all n all i do think that btc future will b bright & as they say limit is the sky. have a good day
It would suck to see BTC go back down, but it would be a good time to stock on some BTC when it does. I think BTC will be back up higher soon enough.
Looks like we just started another leg up... Trump tweeted about US Crypto Reserve, which will include, the tweet says XRP, ADA, and SOL.
it would still end higher than before in the end of the day, that's what matters... sadly world is quite uncertain now, it's hard to say how it will go
#hive #posh