This is updated idea how i predict this will go. Of course it's too early to say that it will go 100% like this. There are many obstacles to cross in bullish and bearish scenarios. But the principle and trend is nevertheless bearish in my opinion. So before we can lure the buyers in by hitting 9k we have to go below 8k one more time and also confirm our green...
My forecasts still hold 100%. Purpose of this chart is only to visualize what is currently happening before we try or perhaps even hit 9k. I still see this market very very bearish and there will be blood flooding the crypto streets. After 9k we will dive to 5k regions. Possibly below that. Still i see the light after that. Imo the downtrend will be over after...
At this point this is the only wave count that makes sense if we looked at this through Elliot glasses :). On a very short term i'm long till 9k regions but after that i think we will see major drop. The ultimate bottom is yet to be seen. It can be 4900-5200, 4500 or 3200. One step at a time
If we indeed follow the cheat sheet we will probably rally to 9k or just below that and then straight under 5k before we can start the real rally upwards