BITCOIN - To The Moon or Into Deeper Correction?

1 mag 2022It is certainly difficult to predict the next move for Bitcoin but one of the alternative options is the beginning of a new cycle which may accelerate the price growth of the crypto giant.

Few points to support this idea:

• The global count indicates that five wave impulse has been completed at the peak of April 2021 - chart is to be shared as an update to this idea
  
• In this case the movement between April 2021 and January 2022 is a Running Flat correction which perfectly completes global wave 2
  
• Since then the coin is at the stage of accumulation having formed wave 1 of global wave 3
  
• And now wave 2 may possibly take shape of another running correction which is typical before an exponential rally
  

All of this is a raw scenario at the moment until we get a confirmation breaking the levels of 48,189 or 32,917.
So let's wait and see what our favourite Bitcoin brings us.

What do you think about this scenario?

Please share your thoughts in the comments and like this idea if you would like to see more stocks analysed using Elliott Waves.

Thanks

1 mag 2022

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