Bitcoin is completely manipulated by huge banks and institutions. They sent Bitcoin down just to make Christmas and New Year’s Eve celebrations bad. But fortunately I warned you about this crash a few days ago, right before it happened in my previous analysis, when almost everyone was drunk on extreme greed. Bitcoin has crashed 15% so far; altcoins are down 30% to 70%.
The last few days have been very profitable, but let’s focus on the future, because that’s what matters most. Bitcoin has risen slightly from 92k to 99k, giving players hope that the bottom has been reached. But don’t be fooled, this looks like a corrective move for multiple reasons.
The first reason is that the crash was so fast and so strong, and almost no one expected such a drop in the short term. My Elliott Wave analysis suggests that this is a strong 12345 impulse wave and thus the beginning of a larger ABC corrective structure. We have finished wave A, now we are in wave B, and we can expect wave C to end at around 85k! You want to take the Fibonacci extension, as you can see on my chart.
I highly recommend waiting until 85k because we have an incomplete FVGAP gap on the daily chart, which needs to be tested. Leave a comment with your altcoin, and I will do an analysis for you in response. Also, please click "boost" and follow for more ideas. Trading is not difficult if you have a good coach! This is not a trading setup, as there is no stop loss. I share my trades privately. Thank you, and wish you successful trades!