Just for educational purpose I wanna share with you the Elliott waves formation on BTC, which taught me a lot. I have never seen such ugly waves. When the rapid dump has been finished in 2021, June Bitcoin started teh sideways move,
The first wave A🔴 had the clear abc structure and I was even able to open perfect short at $25k, but after that I considered wave 5 of the bear market. It was a mistake. Move from $25k to $15k was not the impulse. Impulsive waves are always beautiful and clear. In our case we can see beautiful waves a and c inside the wave B🔵. Wave b inside this wave was very ugly.
Because of tricky wave B🔵 I was not able to predict the wave C🟢. I was in long trade only in the wave 5 inside this wave. Now I have the great confidence that Bitcoin is in the last bearish wave.
Best regards, Ivan
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