Bitcoin Short Setup! ABC elliot wave correction
Full short elliot waves setup headed to 44000 to 48000 USD is finally here!. Some many bullish comments you heard: "november 80k"...."December 120k target cause stock to flow model"... too much FOMO I presume. We strongly believe on an end cycle have been reached this time and Bitcoin needs to correct 20% - 35% at least to keep an ascendend steps like it was in the past. Some few reasons to considery it:
1- FED Tappering it's here.
2- Inflation rate on historical highs.
3- Evergrande default and some few chinese institutions with high loans and no liquidity.
4- Bitcoin market makers are watching peoples FOMO.
5- Bitcoin Bearish Rising wedge
Elliot waves and chart features:
1- Logarithm chart
2- Wave A: 55500 - 58000
Wave B: 60000 - 63000
Wave C: 44000 - 48000
1- FED Tappering it's here.
2- Inflation rate on historical highs.
3- Evergrande default and some few chinese institutions with high loans and no liquidity.
4- Bitcoin market makers are watching peoples FOMO.
5- Bitcoin Bearish Rising wedge
Elliot waves and chart features:
1- Logarithm chart
2- Wave A: 55500 - 58000
Wave B: 60000 - 63000
Wave C: 44000 - 48000
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