The analyst, known for making timely bitcoin calls, believes that BTC needs one last stage before causing a new parabolic surge.
In the session of the strategy, a pseudonymous analyst who deserves the trust of Crypto tells her 67,800 subscribers of YouTube, who Bitcoin, apparently, is in the middle of the fifth-volitional wave corrective wave.
Reliable practices theory of Ellitt waves, which states that bull assets, as a rule, sees a five-wave surge, when the waves of two and four are corrective periods, and the waves-one, three and five, step upwards.
According to the crypto strateg, this is within the limits of Bitcoin’s possibility to go to below $ 80,000 before leaving an impact explosion up.
“An important conclusion from this schedule is that this top of the two, which we portrayed here, can technically decrease by $ 70,000 or even $ 80,000, without affecting this higher time structure.
Until you go below the origin of this impulse, which is here at $ 58,000, we can technically go deeper into this area again without damaging a higher structure of the time frame …
Another key conclusion here is that the movements to the potentials, when we approach here, should become even more aggressive than the transition from 58,000 to 90,000, because it is, in fact, the parabolic upper top. The last fifth wave of the fifth wave of the cycle, which began when Bitcoin traded at $ 3,000 in 2018 …
This step should be the most aggressive step that we saw in this cycle. ”
Looking at the trader table, he seems to suggest that Bitcoin will rally at least 150,000 dollars as a “minimum purpose of the cycle”, but BTC can reach $ 230,000.
At the time of writing, Bitcoin is trading for $ 97,987.
Generated image: midjourney
