A Full Elliot Wave Count on BTC...
Updated
Here is the 
BTCUSD chart with a full Elliot wave count. Let me know anybody who thinks they agree or especially if they think it is wrong! I would love to hear some different takes. I think it seems possible this is the third wave of the third wave (on an extended subwave 5) and is likely this parabolic move picks up speed very quickly. That could mean 50000 or more by mid 2021 or even sooner depending on how the world goes in the upcoming months. We will see digital dollars become widespread implemented (basically serving as a way to conceptualize value for those used to old money). This will lead to hyperinflation and as the dollar becomes worthless since it has no scarcity and can be manipulated ad infinitum...This will lead to a situation where when digital dollars (perhaps usdc) are used on the mainstream for payments to merchants (as evidenced by goldman -sachs and cicle partnership and others) it will cause dramatically accelerated inflation and basically btc or other things with actual scarcity built in will be the only real peg of value and will increase in price quickly to account for the inflation of "digital dollars" This is what makes it possible for BTC to literally hit 1000000 or higher per coin, before it possibly loses favor due to network restrictions (and perhaps it is Stellar on the ALGO blockchain?) . This is just a few ideas... but main point is if you aren't in the market: Getting in fast might be well worth it, the difference between a drop from 18000\ to 14000 is much less is the end target is 1000000.... but catching it at 400000 might be way to late.
BTCUSD chart with a full Elliot wave count. Let me know anybody who thinks they agree or especially if they think it is wrong! I would love to hear some different takes. I think it seems possible this is the third wave of the third wave (on an extended subwave 5) and is likely this parabolic move picks up speed very quickly. That could mean 50000 or more by mid 2021 or even sooner depending on how the world goes in the upcoming months. We will see digital dollars become widespread implemented (basically serving as a way to conceptualize value for those used to old money). This will lead to hyperinflation and as the dollar becomes worthless since it has no scarcity and can be manipulated ad infinitum...This will lead to a situation where when digital dollars (perhaps usdc) are used on the mainstream for payments to merchants (as evidenced by goldman -sachs and cicle partnership and others) it will cause dramatically accelerated inflation and basically btc or other things with actual scarcity built in will be the only real peg of value and will increase in price quickly to account for the inflation of "digital dollars" This is what makes it possible for BTC to literally hit 1000000 or higher per coin, before it possibly loses favor due to network restrictions (and perhaps it is Stellar on the ALGO blockchain?) . This is just a few ideas... but main point is if you aren't in the market: Getting in fast might be well worth it, the difference between a drop from 18000\ to 14000 is much less is the end target is 1000000.... but catching it at 400000 might be way to late. Note
I have a feeling that we could see this 5th wave play all the way to 22000 even; before a strong retracement (that is long overdue) will trap all of the bulls who will hop on right at the new ATH... watch out...
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.