Bitcoin will capitulate and then rise !
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Cycle Analysis and Elliott waves.
The target is around $ 1000.
The target is around $ 1000.
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I will do a macro analysis update soon.There are different macrocycles playing out that affect Bitcoin.
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Short-term update there is a Fibonacci algorithm path with an over 80% probability to play out based on that I am expecting ~42k then ~73k.Nota
Pitchforks adjusted:s3.tradingview.com/snapshots/w/wlpcJYIh.png
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The Fibonacci algorithm is doing the selling finally we are getting closer to the buy zone.Nota
That is a strong reaction from the Fibonacci algorithm confluence zone.s3.tradingview.com/snapshots/w/wymRxVeH.png
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There is a slight break of the square root of 0.5 if I pull the Fibonacci algortithm from the old pivot. If we pull it from the lowest pivot before the rise the square root of 0.5 did actually hold: I will wait and see what price does it is too early to call.
If the lowest pivot does not hold then the most domiant algorithm from the major swing low to the major swing high needs to hold:
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Lost the buying algorithm from the lowest recent pivot!BTC needs to reverse above the red line to remain bullish:
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