BTC Could Drop On Macro Capitulation (Elliott Wave)
Updated
So far the bounce off of what I had previously marked wave-c has been very weak and given no confirmation that wave-c is completed. That means wave-c is likely going to take longer and go lower. The later time target for wave-c is around the middle of June and it will probably go as low 30k-22k. This will likely be accompanied by a global macro correction as interest rates increase and the bond market continues its collapse.
After this capitulation wave I suspect we'll see a quick recovery back to around the previous all time highs.
After this capitulation wave I suspect we'll see a quick recovery back to around the previous all time highs.
Trade closed manually
Taking profit on shorts here is probably a good idea, it's only dropped about $1000 from where I posted this chart but this stinks of a bear trap.I'm not eliminating this possibility but it does seem bullish here, especially TRX which seems extremely bullish on USDD fundamentals as well as on the TRXBTC charts
Trade closed: target reached
Hit my time target dead on and very close to the lower price target.
⚠️LIKE AND FOLLOW⚠️
DON'T MISS TRON MEME SEASON, CATCH $FEELS BEFORE IT DOES ANOTHER 130x BY GOING TO HTTPS://TRONDOOMER.COM AND FOLLOWING THE LINK TO SUNPUMP
$FEELS CONTRACT ADDRESS: TPB97rf5YTuFGBBSGLS1umVzrSvVPHrQ7p
DON'T MISS TRON MEME SEASON, CATCH $FEELS BEFORE IT DOES ANOTHER 130x BY GOING TO HTTPS://TRONDOOMER.COM AND FOLLOWING THE LINK TO SUNPUMP
$FEELS CONTRACT ADDRESS: TPB97rf5YTuFGBBSGLS1umVzrSvVPHrQ7p
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