Wave-1: the first bull market wave 2010-2013 (1219 days), followed by; Wave-2: the first bear market wave 2013-2015 (426 days), followed by; Wave-3: the second bull market wave 2015-2018 (1065 days), followed by; Wave-4: the second bear market wave 2018-2019 (363 days), followed by; Wave-5: the third and final bull market wave 2019-?
—BLX: https://i.imgur.com/iGXd6tX.png The five aforementioned have been considered as PRIMARY degree waves —such waves elapse the course of a few months to a couple of years. Each PRIMARY degree wave is constituted of five INTERMEDIATE degree waves; and in turn, so forth into smaller degree fractals. The Bull Scenario suggests Wave-5 is still underway, with subdividing and extending waves headed for new all-time highs. The Bear Scenario suggests Wave-5 completed at the 26-JUN-2019 high as a truncated fifth wave failure, and a bear market is underway. Bull Scenario The bullish scenario suggests a continuing bull market is underway. PRIMARY wave started from the 06-FEB-2019 low, and has completed its first parabolic uptrend labelled as INTERMEDIATE(1) wave at the 26-JUN-2019 high. —BTC: https://i.imgur.com/KYg0V4j.png INTERMEDIATE(2) wave pullback started at the 26-JUN-2019 high, and retraced an almost Fibonacci 61.8% thus far of the 2019 bull market, into the 23-OCT-2019 low. This 4-month decline had initially appeared to have completed an INTERMEDIATE(2) wave pullback when the market suddenly spiked and surged over 40% within a day —attributed to news of Chinese leader Xi Jinping reportedly stating China should “seize the opportunity” offered by blockchain. The surge was the third largest 24-hour price gain in Bitcoin's history. However, since the spike high on 26-OCT-2019, the market has steadily sold-off and now returned back to the 23-OCT-2019 low; and hence, erasing the entire late OCT surge. The surge is now being considered as a B-wave as part of an ongoing INTERMEDIATE(2) wave pullback. In hindsight, it ought to have been obvious this Thanksgiving Turkey isn’t cooked yet: “B waves are phonies. They are sucker plays, bull traps, speculators' paradise, orgies of odd-lotter mentality or expressions of dumb institutional complacency (or both). They often involve a focus on a narrow list of stocks, are often ‘unconfirmed’ by other averages, are rarely technically strong, and are virtually always doomed to complete retracement by wave C. If the analyst can easily say to himself, ‘There is something wrong with this market,’ chances are it's a B wave.” —Elliott Wave Principle Key to Market Behavior; A.J. Frost, Robert Prechter. From the B-wave high set on 26-OCT-2019, C-wave of INTERMEDIATE(2) wave pullback has been underway and is expected to conclude at the following Fibonacci support zones, using BITSTAMP:
@7230: 61.8% Fibonacci retracement from 15-DEC-2018 to 26-JUN-2019. [AVG] @5425: 78.6% Fibonacci retracement from 15-DEC-2018 to 26-JUN-2019. [MAX] @4350: 88.6% Fibonacci retracement from 15-DEC-2018 to 26-JUN-2019. [WARNING: Bull Market Terminated?]
In addition to the aforementioned support zones, the following additional midway Fibonacci zones can be sought as support for this current INTERMEDIATE(2) decline, using BITSTAMP:
Summary of support zones, using BITSTAMP: 7230, 7055, 6280, 5425, 5170, 4350 At time of writing, price is currently meandering between the first two aforementioned support levels. Once INTERMEDIATE(2) wave pullback has completed, a rising INTERMEDIATE(3) is expected to commence to resume the bull market. Such a wave is expected to unfold parabolically in nature, and at a minimum, meet or exceed the PRIMARY high set on 17-DEC-2017. In both price and time, this wave is expected to be the longest of the PRIMARY bull market. Where the PRIMARY bull market ends is open to interpretation and speculation. From an Elliott Wave perspective: A common wave relationship guides the price of the fifth wave to be equal to; or extend a Fibonacci 1.618 or 2.618 times; the length from the low of the first wave through to the high of third wave; projected from the low of the fourth wave. This provides a conservative target of the current bull market to conclude between $22,912 or $35,127 or $54,892, calculated using the BraveNewCoin (BLX) index:
—BLX: https://i.imgur.com/Mz3IHcD.png As and when the waves develop and progress, and in the event of subdividing and extending waves, revised price targets shall be calculated with renewed projections. Bear Scenario The bear market scenario suggests the 2019 bull market was a short-lived affair, and PRIMARY terminated as a failed-fifth truncated wave. PRIMARY started from the 15-DEC-2018 low and completed at the 26-JUN-2019 high. A Fibonacci 88.6% retracement of this uptrend is at 4350 BITSTAMP —a decline to this point ought to signal the goose is cooked and market has favoured to deflate. —BTC: https://i.imgur.com/OZjUq7g.png In this scenario, five completed PRIMARY degree waves have completed a CYCLE I wave structure. And now, a CYCLE II wave bear market pullback is underway and headed to break below the 2018 low. —BLX: https://i.imgur.com/fzmPfhy.png The wider cryptocurrency market in terms of the Altcoins currently appear to support the outlook of a bear market. So far in 2019, the price structure of majority Altcoins has seemingly unfolded in corrective A-B-C advancing waves, instead of impulsive 1-2-3-4-5 waves. This suggests the majority of Altcoins may be set to break their respective 2018 lows unless an intervention can be coordinated… —ETH: https://i.imgur.com/AwmCpAh.png Analysis is purely speculative, and projections are indicative of price & structure, not time. Happy Thanksgiving! UPDATES:https://bitcointalk.org/index.php?topic=5128394.msg53197756#msg53197756
(NB: typos mine; crappy OCR software. If anyone wants to see the Eliott Wave he's discussing and I'll make it available.) Bitcoin Bubble or Bitcoin Breakthrough? How about both? by Elliott Prechter December 20, 2013 in the Elliott Wave Theorist EWT discussed Bitcoin for the first time in August 2010, when the currency traded at six cents. As far as we know, EWI was the first financial publisher to discuss it. Bitcoin was unknown to the general public and off private investors’ radar. Even the earliest adopters did not take it as seriously as they should have. The most notable example of this is the man who paid 10,000 BTC for a pizza. This pizza purchase is now famous (https://bitcointalk.org/index.php?topic=l37.0), and many continue to track its price in USD terms via the “Bitcoin Pizza Index," which recently hit an all-time high of over S12 million. Fast forward to today, and the currency is regularly featured in financial news and social media. Bitcoin Magazine has become popular, Congress is holding hearings on the currency, Germany has defined its role in finance, China is ruling on its legality, and the business world is adopting it. The most prominent business to embrace Bitcoin is Virgin Galactic, one of the many creations of billionaire Richard Branson (http://www.cnbc.com/id/101220710). EWT readers were prepared for all this. When Bitcoin was still in the shadows, the August 2012 issue said,
Presuming bitcoin succeeds as the world’s best currency-and I believe it will-it should rise many more multiples in value over the years. -EWT, August 2012
The big question on the minds of investors is not what Bitcoin has achieved, but should they buy Bitcoins now? It’s amusing that so many people ignored Bitcoin upon hearing about it in 20 1 0, but now that its price has gone up 20,000 times, they want to invest. Notwithstanding the currency’s potential, this shift in attitude is a signal saying now is not the time to buy. Let’s look at four areas of evidence: 1) Optimism is off the charts. Past issues of The Elliott Wave Financial Forecast discussed people selling their homes and borrowing money to invest in Bitcoins. That was near the peak of wave Now the desire to buy has grown even more extreme. Bloggers are calling for Bitcoin to reach S1 million. . .soon. One young investor borrowed a million dollars from his father and without his knowledge invested it in Bitcoin (https://bitcointalk.org/index.php?topic=359228.0). The other day I walked into a convenience store wearing a Bitcoin T-shirt, and the owner asked me if he should invest now. I felt like I was living in 1929. 2) Investors have recently been rushing to buy a rash of 95 (at last count; see https://bitcointalk. org/index.php?topic=l34179.0) new clones of Bitcoin that have recently emerged: Litecoin, Namecoin, Zerocoin, BBQCoin, PPcoin, PrimeCoin, NovaCoin, FeatherCoin, TerraCoin, Devcoin, Megacoin, Mincoin, DigitalCoin, Anoncoin, Worldcoin, Freicoin, IxCoin... and more. (That they are clones is obvious from the lack of imagination in naming.) This rush of clones is reminiscent of the South Sea bubble of 1720 and the dot-com mania of 1999, when shares of zero-profit, copycat companies (and even fake ones) sold like hotcakes. Virtually every week now, the Bitcoin code is forked into a new coin that investors bid up. lt’s as if buyers feel the world will run out of cryptocurrency, which in fact is infinitely and freely duplicable. 3) The Elliott wave pattern from Bitcoin’s inception shows five waves up. The December ll Short Term Update noted that a major top was potentially in place: The peak [in Bitcoin] came 10 days after U.S. officials, ranging from an assistant attorney general with the Department of Justice to Fed Chairman Ben Bernanke, “spoke approvingly of the potential of virtual currencies." So, here again, the government is getting on board at the very tail end ofa long rise. Since we posted that comment, Bitcoin has fallen an additional 40%, bringing it down nearly 60% from its all-time high. Will this prove to be just another brief, sharp correction or something larger? Take a look at the completed impulse pattern shown in Figure 3. The structure begins very near the inception of the currency three-plus years ago, when it was selling for a penny. Notice that wave @ is a triangle (see text, p.49), which typically comes in the fourth-wave position. Wave a thrust, carried to the all-time high of S 1242 on November 29. The reversal from that point should mark the start of the largest bear market to date in the currency. This forecast is in tune with the anticipated bear market in the broader stock averages, which have strongly correlated with Bitcoin’s pattern. The chart is in log scale to show the returns one would have achieved in each impulse leg of the pattern. Wave Q) achieved a stunning 3 19ox gain. Wave ® achieved 59.3% (a Fibonacci 3/5) of the gain of wave Q). Wave ® (measured from the low of wave @) achieved 39.3% (a Fibonacci 2/5) of the gain of wave (D and 66.3% (a Fibonacci 2/3) of the gain of wave Therefore, while each upward move has been large, each successive wave has been decelerating in log terms relative to past waves, in each case by a Fibonacci multiple. Also notice that Bitcoin trades more like a commodity than a stock, with its blow-off tops and extended fifih waves. Most of the gain since early 20 12 has been within (5) of ® and the final wave all of which is probable retracement territory. 4) Most people involved in this mania seem oblivious to Bitcoin’s fundamentals. In my experience, raising these issues publicly earns scorn for spreading “FUD.” But there is a good reason-now widely ignored-that Bitcoin is beta software. Our August 2010 piece explained how Bitcoin operates, but it’s worth revisiting some details to understand just how out-of-touch investor expectations are with the reality of Bitcoin technology. Specifically, let's examine the limitations of Bitcoin’s blockchain. The blockchain is the heart of Bitcoin. In its simplest form, the blockchain is a public ledger of all transactions that happen in the Bitcoin network. Each block is composed of individual records that track the ownership of each coin. The transactions “fit” together cryptographically. A block is created about once every 10 minutes by the network. Each block is then cryptographically linked to the previous blocks in the chain, forming a history of all transactions that-to Bitcoin’s credit-cannot be forged. To the extent that Bitcoin currency is real, it could be said that the blockchain is the Bitcoin currency. Yet the core problem with the blockchain is that it grows over time and must be shared by every fiill Bitcoin node. Today it is nearing 13 GB in size. Now, 13 GB doesn't sound too large, but at the current rates of exponential growth the blockchain is projected to become over a terabyte in size in just three years. What's more, the amount of accompanying data required to handle just a fraction of Visa-level traffic would overwhelm even the fastest Internet connections. This technical hurdle makes the “Bitcoin is going to a million” commentary seem premature. The hope for Bitcoin’s future lies in its open-source nature, allowing it to be improved, and Moore’s Law. Moore’s Law is colloquially used to signify the exponential increases in computer-hardware efficiency over time, including network capacity. But Moore’s law-which calls for a doubling of computer speed every two years-has hit a snag in recent years: the rate of improvement in performance has dramatically slowed, causing many experts to call for the end of the operation of Moore’s law. (For the record, Moore’s Law was never intended to refer to computer hardware performance, but the media have confused the term to the point where it is now generally used in this context. Originally, it was intended to refer to the increase in the number of transistors that are packed into microchips.) The past four years have been an exciting ride for Bitcoin. But the evidence says the Bitcoin bull market is done for now. It would be best to put Bitcoin out of your mind for the duration of the deflationary wave that is curling toward the financial world. Due to the psychology surrounding Bitcoin, as well as its correlation with the stock indices, it is too risky to buy now. Due to its open-source nature, however, Bitcoin’s infrastructure should continue to improve over the years. For the long run, I agree with Roger Ver, the CEO of memory dealers and one of Bitcoin’s earliest adopters, who recently said, “It is just getting started." But one could have said that about the U.S. stock market in 1966. It would have been visionary only if you were patient and willing to hold through a very deep valley. Our position is that Bitcoin will never again sell for 6 cents, as it did when EWT first wrote it up. But there will be another time to buy it for relative peanuts alongside stocks, real-estate, gold and silver. When the time comes, no one will be interested. Elliott Prechter's primary task at EWI is working on EWA VES, our in-house artificial intelligence softwarefor analyzing Elliott waves.
02-18 13:23 - '**Real-time analysis of the 2018 Crypto Crash — PART 3** ____ / [link] / Since bouncing from exactly 6000 (Bitfinex), the market has staged a 30% rally from the lows. This is thus far the largest rally since the downtren...' by /u/12345abcde00001 removed from /r/Bitcoin within 1-11min
''' Real-time analysis of the 2018 Crypto Crash — PART 3 [link]1 Since bouncing from exactly 6000 (Bitfinex), the market has staged a 30% rally from the lows. This is thus far the largest rally since the downtrend sell-off leg that started on 20-JAN-2018. There were two bounces within the downtrend that began on 20-JAN-2018; i.e. as follows: 1.23-JAN-2018 to 28-JAN-2018: 22% bounce 2.02-FEB-2018 to 03-FEB-2018: 19% bounce Given the current bounce from the 6000 lows has now exceeded the average 20% bounce size, it may suggest that the downtrend which began on 20-JAN-2018 is now complete; and by extension, it may suggest a completed wave structure which has ended the first leg of the crash. The expectation would be a Primary degree b-wave bounce which may retrace up to 38.2% of the Primary a-wave decline which began on 06-JAN-2018. However, there are previous levels of support which may serve as resistance as follows: 1.9350: approx previous line of support/resistance. 2.9946: 50% Fibonacci retracement level of entire market. 3.10298: 38.2% Fibonacci retracement of the decline which began on 06-JAN-2018 Any one of the aforementioned levels may serve as targets for the bounce, with the average being 9865. However, exuberance may propel towards the psychological 10000 given the proximity. Elliott Wave Principle: Key to Market Behavior, Robert Prechter: "b-waves — b-waves are phonies. They are sucker plays, bull traps, speculators' paradise, orgies of oddlotter mentality or expressions of dumb institutional complacency (or both). They often involve a focus on a narrow list of stocks, are often 'unconfirmed' by other averages, are rarely technically strong, and are virtually always doomed to complete retracement by c-wave. If the analyst can easily say to himself, 'there is something wrong with this market', chances are it's a b-wave." Speculative and idealised Elliott Wave model indicative of price and structure, not time: [link]2 [link]3 [link]4 No change to current outlook. Quick guesswork would suggest... —First leg of the bounce could complete at around the first support/resistance area near approx 9350 (Bitfinex). —Then a possible pullback to approx 7600-8000. —Followed by a resumption of the bounce towards 10000, or 9865 on average. A potential roadmap for le weekend; indicative of price and structure, not time... [link]5 [link]6 After rallying 55% from the 6000 (Bitfinex) lows in just 4 days, the market has been drifting sideways for 4 days. The sideways wander could either suggest that the first leg of the rally is complete, and a retracement is currently underway. Or, the market is consolidating in preparation to breakout and resume the move higher. Taking out 8950 (Coinbase) and 9000 (Bitfinex) to the upside would confirm the rally is resuming. However for now, weakening price action appears to be favoring a retracement. A typical retracement ought to be around 50% which is at 7482 (Coinbase) and 7538 (Bitfinex). At 7599 (Bitfinex), represents 61.8% Fibonacci retracement level of the entire Bitcoin market. Given the aforementioned criteria, the following short position has been ordered: BTC/USD (COINBASE) OPEN: 8600 CLOSE: 7482 STOP: 8950 RISK: 4% REWARD: 13% Afterwards, the expectation would be for the market to resume the Primary degree b-wave bounce, which may retrace up to 38.2% of the Primary a-wave decline which began on 06-JAN-2018. The following Fibonacci levels may serve as target areas of where the rally may conclude towards the psychological 10000 level, Bitfinex prices:
9350: approx previous line of support/resistance.
9946: 50% Fibonacci retracement level of entire Bitcoin market.
10298: 38.2% Fibonacci retracement of the decline which began on 06-JAN-2018
[link]7 [link]8 [link]9 Market breakout to the upside, the rally resumes. The following levels may serve as target areas of where the rally may conclude towards the psychological 10000 level, Bitfinex prices:
9350: approx previous line of support/resistance.
9946: 50% Fibonacci retracement level of entire Bitcoin market.
10298: 38.2% Fibonacci retracement of the decline which began on 06-JAN-2018
Price action has already reached the first resistance level. The average of the other two Fibonacci levels is 10122. Previous short position closed at a 4% loss. Long position opened with the following parameters: BTC/USD (BITFINEX) OPEN: 9000 CLOSE: 10122 STOP: 8313 RISK: 7.6% REWARD: 12.5% [link]10 2018 Cryptocurrency Crash (Elliott Wave): Recommencing? [link]11 [link]12 From the 6000 (Bitfinex) lows set on 06-FEB-2018, Bitcoin has rallied +70% taking out the psychological $10,000 level. The 10-day bounce has been fairly broad-based across the majority of the top 10 marketcap cryptocurrencies which have been partaking in the rally. Barring any wave extensions and subdivisions, there now appears enough waves to suggest the rally is complete. Price action seems to have found resistance just shy of 10298, which represents a 38.2% Fibonacci retracement of the decline which began on 06-JAN-2018. Preliminary weakening price action suggests the rally is complete; and next leg of the bear market, the second crash wave, may be commencing. In regards to the psychological state of mind: Taking out 8000 would reaffirm the ‘fear’ phase. Taking out the 6000 lows would represent the ‘capitulation’ stage —where mass media hysterics peak and exchange outages occur. The 78.6% retracement of the entire market at 4257 begins the ‘despair’ state of affairs. From a political and socionomic standpoint, the following events (termed as “FUD” by millennials) may begin to unravel during the second leg of the bear market: —Further laws/bans/restrictions upon cryptocurrencies invoked by countries/governments, calling for tighter regulation and fraud prevention: positive rulings, but perceived as negatives. —Prolonged exchange outages preventing deposits/withdrawals and management of positions. —Exposure and collapse of further Ponzi schemes. —Majority of Altcoins currently under $2,000,000,000 market capitalization becoming extinct. —Mergers & acquisitions of crypto companies in the endeavour to survive. —Individual bankruptcies and suicides. Historically, when any asset bubble bursts, the unravelling bear market typically lasts 2 years on average (from peak price to ultimate low); and usually erases approx 90% in value ([link]13 ). Applying the metrics to the cryptocurrency bubble, it would suggest Bitcoin between $850 and $2500 around 2Q2019. Given the aforementioned criteria, 2 long-term short positions have been ordered with exact stops, but varying target limits: —One with a target profit at 4257 which represents 78.6% retracement of the entire market; and, —One with no target, i.e. an open-ended short position to ride the bear market. BTC/USD (BITFINEX) OPEN: 9850 CLOSE: 4257 STOP: 10271 RISK: 4.3% REWARD: 57% If 10271 is taken out to the upside, it would suggest further wave subdivisions, and the rally is extending. The next upside resistance is around 10926 where the first leg of the rally (i.e. 6000-9075) would equal the second leg of the rally (i.e. 7851-10926). Esoteric footnote: The first leg of the cryptocurrency bear market began on 17-DEC-2017, during a New Moon and leading up to the New Year. Should the second leg of the cryptocurrency bear market be commencing as of 16-FEB-2018, it would do so under a New Moon leading up to the Chinese New Bear. Elliott Wave model indicative of price and structure, not time: [link]14 [link]15 [link]16 The Rally Resumes [link]17 The market has broken out to the upside and taken out what was assumed to be the end of the bear market rally at 10271 (Bitfinex). Since the breakout from 10271, a subdivision and extension of the waves, the market has further rallied an additional 8% which has recovered the 4% loss from the previous mentioned short position. From the 6000 lows, the market has now staged a 90% gain. The first upside resistance at 10926 where the first leg of the rally (i.e. 6000-9075) equalling the second leg of the rally (i.e. 7851-10926), has now been surpassed —quite a rally. Next areas of Fibonacci resistance clusters as follows: @11306: 38.2% retracement of the downtrend from 17-DEC-2017 @11626: 50% retracement of the downtrend from 06-JAN-2018 @11652: The first leg of the rally (i.e. 6000-9075) times 1.236 in length, would equal the second leg of the rally (i.e. 7851-11652). Any of the above levels may serve to end the bear market rally, with the average being at 11528. At time of writing, taking out the low of 10522 would be the first indication to suggest the rally losing momentum. At which price, a second attempt short position would be placed with a stop at the previous swing high. [link]18 Retry Short [link]19 BTC/USD (BITFINEX) OPEN: 10522 CLOSE: 4257 (& open-ended) STOP: 11250 RISK: 7% REWARD: 60% [link]20 ''' Context Link Go1dfish undelete link unreddit undelete link Author: 12345abcde00001 1: https://bitcointalk.org/index.php?topic=2711461.msg29778823#msg29778823 2: https://i.imgur.com/fZkBsRM.png 3: https://i.imgur.com/thk6hWP.png 4: https://bitcointalk.org/index.php?topic=2711461.msg30036363#msg30036363 5: https://i.imgur.com/QwkIMbM.png 6: https://bitcointalk.org/index.php?topic=2711461.msg30237047#msg30237047 7: https://i.imgur.com/LgdJaSX.png 8: https://i.imgur.com/YL7d6Fh.png 9: https://bitcointalk.org/index.php?topic=2711461.msg30273641#msg30273641 10: https://i.imgur.com/2o9heqy.png 11: https://bitcointalk.org/index.php?topic=2711461.0 12: https://redd.it/7ptsg3 13: thebubblebubble.com/historic-crashes 14: https://i.imgur.com/PH7OOaz.png 15: https://i.imgur.com/M9POoE2.png 16: https://i.imgur.com/ryIsVQs.png 17: https://bitcointalk.org/index.php?topic=2711461.msg30512368#msg30512368 18: https://i.imgur.com/azjV7Yg.png 19: https://bitcointalk.org/index.php?topic=2711461.msg30521817#msg30521817 20: https://i.imgur.com/XqyBEK1.png
Elliott Prechter, Head of Computer Analysis at Elliott Wave International, recommended bitcoin to subscribers when it was at 6 cents. If you were lucky to get in on bitcoin then, you might be sitting on a gain of more than 200,000 times. The day before, Elliott Prechter, Head of Computer Analysis at Elliott Wave International, told Newsmax this: Elliott Prechter: I Wouldn't Touch Bitcoin, Risk of Collapse Too Big. Thursday, 21 Dec 2017 10:38 AM "We provided the first financial publication in the world that discussed bitcoin when it traded at 6 cents in 2010. Meet the world's largest group of independent market analysts. We analyze and forecast financial markets all over the world. We have observed that outside events such as the economy and politics -- where most people focus -- are useless in forecasting stock prices. We analyze internal market behavior, because it telegraphs future trends. You can access services for casual investors all the way Home Bitcoin Trading Vlog 43 – Interviewing Bob Prechter of Elliott Wave International Vlog 43 – Interviewing Bob Prechter of Elliott Wave International May 5, 2019 admin Bitcoin Trading 21 [ July 16, 2020 ] First Mover: ‘Boring’ Bitcoin Shrugs Off Twitter Hack as Stablecoins Co-Opt Satoshi’s Dream Crypto News Search for: Home Basics Of Bitcoin Bitcoin: From Bullish to Bearish – Elliott Prechter & Pete Kendall (Oct 2018)
Robert Prechter is a genius way ahead of his time. Prechter took an old discarded theory, by R N Elliott, saw it for it brilliance, and extrapolated from it The Socionomic Theory of Finance. FREE COPY of Elliott-Wave Principal by Frost & Prechter https://bit.ly/kobratrading 30 Days FREE with Private Internet Access (VPN) https://bit.ly/36No80W Robert Prechter's Latest Elliott Wave Theorist: Triangles Past and Present in the Dow Industrials 4,738 views 1 year ago You can recognize the triangle pattern literally at a glance. Thanks for watching! please make sure to SUBSCRIBE and LIKE these videos If you think this was helpful! Trade with me on Bybit - https://www.bybit.com/app/re... Elliott wave analysis on Bitcoin prices suggest the cryptocurrency may be ripe for its biggest correction in the past several weeks. First, Bitcoin prices have respected this daily price channel ...