EvgenK

EvgenK

There is a Elliot Wave analysis of SNP500 movements. Theory says, that last high was a end of growth cycle. May be turn will true re high, but more likely it will start and summer or fall 2023, lets see

EvgenK

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EvgenK

I think, that correction is over, and now we move to new historical hight from 45k to 70k, all target levels represented in Fib on this chart.

EvgenK

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EvgenK

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EvgenK

... it was red scenario

EvgenK Updated 

There are three scenarios in my opinion. Blue - a fairly rapid fall to the levels of $ 27200-20200. Red - a long correction in the form of a triangle without a breakdown of the 29300 level, then to a new top. Green - optimistic, go straight for a new highs. A breakdown of the 20k level will cancel new Bitcoin records for a couple years.

EvgenK

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EvgenK

upd

EvgenK

Bitcoin strongly overbought

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EvgenK

,,,

EvgenK

Yes, we in third wave. Third wave is a big and fast move, but stay calm and look to volumes. Big red (some times even green) candle with large volume (se in history, all turn candles have 2-3-4 times more volume then average, day candles), means turn to correction. No bitcoin mania with prices from 100k to 600k$, trade it calm ) 30-40k that's the targets for this year.

EvgenK

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EvgenK

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EvgenK

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