UltimaTe Elliott wAve Analysis for Bitcoin-double combined wave4
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The price according to Elliot waves has finished the correction of wave 4 (which was a double combined correction wave WXY), finding support at 50% of wave 3, and at the green line.
Now wave 5 is going to develop, which is weak, and I don't think it will be enough to take us to the 100k that so many people are waiting for. The target price for wave 5 is between 85k and 95k. From there I suppose the last big fall of bitcoin will come generated by the recession that is a product of the overinflated stock market we are currently in.
On the negative side, there are certain behaviors in the price (which I will not name so as not to make the analysis too long) that indicate to me that we could be experiencing a distribution (large investors selling slowly at the top) and that we have already touched the top of the bitcoin price.
As for probabilities, I would say that the first case (the positive one) has 42% and the second (the negative one) 32%, the other 26% would be distributed in other more remote scenarios.