Bitcoin is moving as predicted!

Hi all!

Last time I showed you a local Elliott wave scenario using trading chaos. I was predicting something like a double top and we saw it on the 4 hour time frame. I am now confident that Bitcoin has indicated an impulsive downward momentum that will take us to our final target of $15-17k. Today is the time to update our medium-term forecast.

Let’s look at the 1D timeframe of the BTCUSDT chart of the WhiteBit exchange. The ABC correction ended at $25k, a fact I have pointed out many times. Right now it appears that Bitcoin is forming an Elliott wave cycle of 1-2-3-4-5. Waves 1 and 2 are already over. In my interpretation, in wave 3 we also see the completion of waves 1 and 2. I want you to notice that wave 2 ended just below the Fibonacci gold pocket. Moreover, the price was unable to even reach the countertrend line. I consider this a sign of weakness and a feature of wave 3. I now expect a rapid decline, which will be sub-wave 3 within wave 3. But after that, the bear market will end very soon.

Best regards, Ivan