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Bitcoin Price Prediction: What Elliott Wave Theory Suggests Is Next For BTC
Nenpòt Bitcoin price prediction is just a guess without a basis to make the forecast. The modèl stock-a-koule sa ki te yon fwa rezon ki pi site pou ekspetasyon nan pi wo pri te echwe, kite analiz teknik, sou-chèn siyal, ak estatistik kòm pi bon chans pou jwenn objektif pri nan lavni.
Elliott Wave Theory is a technical analysis forecasting methodology discovered in the 1930s, which is based on identifying extremes in investor psychology combined with distinctive price behavior. With Bitcoin and other cryptocurrencies being so susceptible to the ebb and flow of investor sentiment, here is what Elliott Wave Theory suggests about what is to come for Bitcoin pri.
Yon istwa kout nan aksyon pri BTC
Jounal Bitcoin price index chart begins in late 2010, with the first-ever cryptocurrency trading at only pennies on the dollar. By the end of 2011, the price per BTC grew by more than 60,000%. Before the year came to a close, it has lost 94% of its value.
Soti nan ki ba apeprè $ 2, yon lòt enpilsyon optimis te ajoute ankò yon lòt 60,000% ROI nan pik 2013 la. Men, yon lòt faz korektif apik te swiv, koupe lajan kript la desann pa 86%.
What followed was arguably the most talked about bull run since the dot com bubble, when in 2017 Bitcoin reached nearly $20,000 per coin. By now, we can see that extreme price swings and pivots in investors sentiment lead to boom and bust cycles across crypto. Bitcoin once again found a bottom at $3,000 in 2018, which will be the basis of the remainder of the analysis.
The first wave ever and the history of Bitcoin price | Source: BTCUSD sou TradingView.comYon Entwodiksyon nan Teyori Onn Elliott
Premye dekouvri pa Ralph Nelson Elliott nan ane 1930 yo, Elliott Vag Teyori se yon baz pou eksplike kijan mache yo grandi sou tan. Onn motif nan EWT se yon egzanp sou mache k ap deplase twa etap pi devan, ak de etap tounen.
Etap sa yo altène retounen ak lide ant kwasans ak faz korektif. Onn motif yo konpoze de senk vag nan total - ak onn enpè nimewo k ap deplase nan direksyon tandans prensipal la, e menm vag nimewote k ap deplase kont li.
Malgre ke faz korektif yo lakòz yon bès drastik nan valè, kwasans incrémentielle toujou rete nan direksyon tandans prensipal la. Vag, tou de san reflechi ak korektif tou de parèt nan diferan degre ak delè.
For example, a five-wave impulse on the daily timeframe could only be a tiny portion of a multi-century Grand Supercycle. Figuring out where Bitcoin is along in its various wave cycles and degrees can help to predict future price action.
Bitcoin price prediction scenarios based on possible wave counts | Source: BTCUSD sou TradingView.comRevize sik mache aktyèl la, dapre EWT
Each wave in an impulse has unique characteristics which can help an analysis decipher where an asset is in an overall motive wave. Following the 2018 bear market bottom, crypto had a clean slate to move up from. In 2019, Bitcoin rallied to $13,800, showing the market there was still life in the speculative asset.
Prèske rasanbleman an antye retrace, ki se yon karakteristik komen nan yon koreksyon vag 2. Koreksyon yo gen tandans altène ant koreksyon byen file ak koreksyon plat. Koreksyon byen file yo reprezante pa zig-zag. Vag 2 te konpòte tankou yon zig-zag epi pa gen okenn nye ke mas 2020 la. Nwa Jedi efondreman se te yon koreksyon byen file.
Wave 3 in Elliott Wave is typically the longest and strongest wave, marked by much wider participation than wave 1. The crowd begins piling at this point. Bitcoin gained national media attention as it reached new all-times during this wave. From there, things get more confusing.
Pratikan Elliott Wave yo divize an si BTCUSD te konplete faz vag 4 ak vag 5 li yo deja, oswa si vag 4 toujou nan pwogrè ak vag 5 poko vini. Sèvi ak de senaryo sa yo, kèk objektif ka konsidere.
Things could get extremely bearish for Bitcoin if the cycle has ended | Source: BTCUSD sou TradingView.comSenaryo yo Bearish ak optimis ak objektif
Nan senaryo a bearish, a vag twonke 5 ended the Bitcoin bull run and sent the crypto market into its first true bear phase, with wave 5 of V finished and done, ending the primary cycle (pictured above).
Completed bull markets often retrace back into wave 3/4 territory when the motive wave is completed. Bearish price targets put the negative Bitcoin price prediction from anywhere between $9,000 to as low as $2,000 in a complete collapse of the market. A larger catastrophe in the stock market and housing could ultimately do the trick by pulling whatever capital that’s left out of crypto.
The bullish scenario is much more positive, and better fits with what Elliott Wave Theory calls “the right look” and proper counting. In the bullish scenario, Bitcoin is in the final stages of an elaji koreksyon plat, epi yon fwa santiman yo ak ekstrèm pri yo fini, cryptocurrency an tèt yo pral rapid nan mete yon lòt ekstrèm pri optimis ak chanjman santiman, pi vit pase nenpòt moun ki prepare pou.
BTC parèt nan etap final yo nan yon koreksyon vag plat elaji 4 | Sous: BTCUSD sou TradingView.comUsing EWT To Make A Bitcoin Pri prediksyon
Majik la dèyè Elliott Wave Theory ak poukisa li enfliyanse kwasans nan mache finansye yo se akòz relasyon li yo ak nimewo Fibonacci. Fibonacci nimewo yo baze sou sekans Fibonacci, ki gen rapò ak rapò an lò. Sekans Fibonacci a li 0, 1, 1, 2, 3, 5, 8, 13, 21 ak sou sa.
Nan Elliott Wave Theory, gen 21 modèl korektif ki soti nan senp rive konplèks. Yon vag motif se 5 vag moute, pandan y ap vag korektif yo se 3 vag desann, kreye yon total de 8 lè yo ajoute yo. Yon vag enpilsyon konplè reyalize ak tout vag sub se 21 vag moute, pandan y ap faz korektif yo jiska 13 vag desann. Chak nimewo Fibonacci ki soti nan sekans lan enkli nan kèk kapasite.
Koreksyon tou sispann nan nivo Fibonacci retracement, ak enpilsyon rive nan ekstansyon Fibonacci kòm objektif pri. Vag 5 anjeneral egal a vag 1 oswa vag 3 an tèm de grandè. Si vag 5 pwolonje, epi li souvan nan kriptografik, sib vag 5 a ta ka tonbe yon kote ant 1.618 nan vag 3, oswa 1.618 nan sòm vag 1 ak vag 3.
Bitcoin price reached the 3.618 extension from the bear market bottom, making it possible that the top cryptocurrency overshoots once again. On the lowest end, a 1.618 price target would put the peak of BTC for this cycle somewhere close to $96,000 per coin, while another 3.618 extension could take the top cryptocurrency all the way to $194,000 per BTC.
Sa fè a Bitcoin price prediction using EWT anywhere between $100K to $200K before the cycle is over. You can watch this Bitcoin price prediction unfold in real-time by bookmarking the idea on TradingView.
Yon posib Bitcoin price prediction based on Fibonacci extensions | Source: BTCUSD sou TradingView.comSe sèlman kèk jou ki rete pou pwofite @elliottwaveintl's “The 12 Days of Elliott”
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— Tony "The Bull" Spilotro (@tonyspilotroBTC) 8 Desanm 2022
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