Bitcoin – the most likely scenario

Hi all!

I told you every time that the bottom of the bear market would be at $15-17k and that is my main scenario. Last time I showed you a positive but less likely scenario. We calculated Elliott waves for a positive scenario, when the price has not yet completed global wave 4 and we can expect a pump to $28k. But the most likely scenario is that wave 4 ended at $25k and we are now in wave 5.

Let’s look at the 1D timeframe chart of BTCUSDT on the WhiteBit exchange. If wave 4 was completed at $25k, then it is obvious that this is an ABC correction. Now the price is forming a global wave 5. Sub-waves 1 and 2 inside wave 5 have already been completed and now the price is forming wave 3. I assume that we are at the very beginning of wave 3, inside wave 3, inside wave 5. When a new dump begins, its target is a 100% Fibonacci extension ~ $16k. After that, I expect a long flat in terms of timing, a new slightly lower low, and after that a crazy signal to go long.

Best regards, Ivan