Elliot Waves Analysis of BTC.
*Key Points*
1. Similar Pattern: Bitcoin is following the December 2023 pattern, which saw a lower-side sweep before moving up in Q1 2024.
2. Corrective Waves: Corrective waves indicate a potential flush down of leveraged traders if the market visits 90k and lower areas. The Main support Could be 87160 or 85110.
3. Bullish Q1: Q1 is expected to be bullish, with BTC moving upward along with altcoins after the lower liquidity is swept.
Action Plan
1. Risk Management: Keep risk low and use proper risk management strategies.
2. Spot Buying: Recommended spot buying if the market visits below 90k level up to 85k.
3. Step-by-Step Buying: Step-by-step buying is recommended to manage risk.
4. Avoid Big Positions: Avoid taking big positions to minimize potential losses.
Expected Outcome
A bullish Q1 with BTC moving upward along with altcoins after the lower liquidity is swept.
