Current outlook at a new Bullish Cycle and Elliot Wave Cycle.

Hi Guys, I have been fairly quiet since the long sad winter of crypto. However, I did accumulate quite a bit of Bitcoin in last December at the Average price of 3450USD.

As everyone, I am also astonished about the turn events of BTC. Yes i feel like i have caught the bottom, but i expected atleast another year of slow accumulation Sub 6k

This post today is to indicate a Scenarion of a New bullish Elliot Wave cycle in Bitcoin.

Now if it is a New cycle we should count as a fresh start by counting 1 Major Wave (Pink) and one Minor Wave ( Blue)
The Green Waves are correction Waves withing corrective waves in Pink.


Scenario 1:

Wave 1; Ends at 8,520 USD Rejection

Wave 2 Starts; Flat correction.
A to 6,800 USD
B to 8,500 USD
C to 6,800 USD

Wave 3 Starts; Target : ( 1:1 Ratio of Wave 1 Minimum)
11,840 USD

Wave 4 Starts; Steep Correction
8,520 USD

Wave 5 Starts; Target : (1.618 of Wave 1)
15,600


Scenario 2: Wave 2 is a steep correction instead of Wave 4 Correcting to lower levels (5,800 Usd or worst cast 4,250 Usd), and Wave 4 is a flat correction that correct to higher levels 9900-10kUSD

This is my current forecast at current price action and market sentiment :) This will change with nw price development and news.

Good Luck fellow traders
This is the current forecast at current price and sentiment