Short

BTCUSD Daily - Little Hope Left Crypto Winter in Season

Updated

As you can see bitcoin is in a dire situation. There maybe a relief bounce to 33k to close a gap produced on the bearish push down. However I doubt that it will amount to anything, if it were to hold there is a chance for a new bullish cycle to start, but no signs yet. Instead we're developing momentum downward and will start to really grind if we don't get that relief bounce soon. The trend on the daily is a loss of momentum, I'm seeing a 5th wave ending on bitcoins grander cycles meaning the deepest bearish cycles may yet come to be. Maybe it will be a quick gutting, everything crashes at once, and bitcoin goes to unimaginable lows. As the dust settles, it may re-emerge from its ashes and start a new cycle. If not, it could be a slow and painful, complicated recovery or simply an outright death.

Big Picture:

Zoom Zoom:

Previous Analysis:

BTCUSD - Daily Inflection Point, Oh Boy!

Elliot Wave Count/Gann Chart:

Bitcoin Liquid Index Gann Square & EW Count

Immediate Target 33k (if bitcoin has relief bounce)
Next Target 20-22k
Long Term Target 3-13k
If BTC Recovers 80-120k

This is not financial advice.

Note

POTENTIAL? Reversal zone :)

Mikhiavelli

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.