Stating above the $25,000 level and again experiencing some decline bitcoinInvestors expect further upside.
In this context, the popular crypto analyst who says that the bears are about to lose hope in Bitcoin Smart Contracterapplies the Elliott Wave theory in BTC.
The analyst stated that according to the Elliott Wave theory, Bitcoin has already formed the final wave in a five-wave bullish pattern that started earlier this year.
BTC’Saying that the fifth wave is in good shape, the analyst argued that the fifth wave will take Bitcoin above $ 26,000.
However, Smart Contracter, who thinks that a decrease is needed for the real bull, stated that this decrease will bring BTC to $ 19,000 levels.
The analyst also added that the decline will not be abrupt, but will spread over a period of two months.
“The daily 5th wave in Bitcoin is currently in good shape.
The fifth wave will allow Bitcoin to climb to around $26,000-26,500 to top $25,200 and destroy the last remaining bears.
This rise will cause a rise in the feeling of rise in everyone.
But before the real 2023 bull run begins, Bitcoin will drop to $19,000. This decline will take more than 2 months and will be slow.”
the wave 5 on the #btc daily now well underway
anticipating us to take out those 25.2k highs, probe seven a tad higher up to around 26-26.5k to obliterate the last remaining bears, get everyone mega bull, then a slow 2 month+ dump into the 19ks before the real 2023 bullrun begins pic.twitter.com/3lTvyJtYh3
— Bluntz (@SmartContracter) February 16, 2023
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price tracking right now by downloading our apps!