A quick update on BTC. If you have been following my BTC count, you know that I had the idea that wave B correction started on Nov. 2021 was developing as a triple zigzag and I had the 10,000-12,000 zone for the bottom.
Now, I believe that BTC has formed the bottom for wave B and it is inside wave (1) of C. More specifically, we are near the completion of wave A of (1), which will be followed by wave B (~ to 20,000 area), then another push higher to complete wave (1) later this year. It is very early to comp up with targets for wave (1) peak, but I don’t think it will be higher than 35,000.
There is an alternative scenario, which I think is of low probability for now: second wave (X) is still under development as a flat and we are completing its C leg. That would be followed by the third zigzag wave (Z) to new lows!
Now, I believe that BTC has formed the bottom for wave B and it is inside wave (1) of C. More specifically, we are near the completion of wave A of (1), which will be followed by wave B (~ to 20,000 area), then another push higher to complete wave (1) later this year. It is very early to comp up with targets for wave (1) peak, but I don’t think it will be higher than 35,000.
There is an alternative scenario, which I think is of low probability for now: second wave (X) is still under development as a flat and we are completing its C leg. That would be followed by the third zigzag wave (Z) to new lows!
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