Bitcoin Price Prediction: What Elliott Wave Theory Suggests Is Next For BTC

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Bitcoin Price Prediction: What Elliott Wave Theory Suggests Is Next For BTC

tetahi Bitcoin price prediction is just a guess without a basis to make the forecast. The tauira kararehe-ki-rere Koina te take i tino whakahuahia mo nga tumanakohanga mo nga utu teitei kua rahua, ka waiho ko te tātaritanga hangarau, nga tohu mekameka, me nga tatauranga te waahi pai rawa atu ki te rapu i nga whaainga utu a meake nei.

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 utu.

He korero poto mo te mahi utu BTC

te 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.

Mai i te iti o te $2, ka taapirihia ano he 60,000% ROI i te tau 2013 teitei. Ko tetahi atu waahanga whakatikatika i whai, ka whakahekehia te moni crypto e 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 i runga i te TradingView.com

He Kupu Whakataki Ki Elliott Wave Theory

I kitea tuatahi e Ralph Nelson Elliott i nga tau 1930, Te Kaupapa Ahuru o Elliott he putake mo te whakamaarama me pehea te tipu o nga maakete i roto i te waa. Ko te ngaru motika i roto i te EWT he tauira o nga maakete e neke ana i nga hikoinga e toru ki mua, e rua nga hikoi ki muri.

Ko enei kaupae ka huri haere i waenga i te tipu me nga waahanga whakatika. E rima nga ngaru te katoa - me nga ngaru tau kehe e neke ana ki te ahunga o te ia tuatahi, tae atu ki nga ngaru tau e neke atu ana.

Ahakoa ko nga waahanga whakatika ka paheke te uara, ka mau tonu te tipu ki te ahunga o te ia tuatahi. Ka puta nga ngaru, te hihiko me te whakatika i nga reanga rereke me nga wa.

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 i runga i te TradingView.com

Te Arotake I Te Hurihanga Maakete O Naianei, E ai ki a 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.

Tata ki te katoa o te huihuinga i hoki whakamuri, he ahuatanga noa o te whakatikatika ngaru 2. Ko nga whakatikatika he rereke i waenga i nga whakatikatika koi me te ahua papatahi. Ko nga whakatikatika koi e tohuhia ana e te zig-zags. Ko te Wave 2 he rite ki te zig-zag, karekau e whakahē ko te Maehe 2020 Rāpare Pango ko te tiango he whakatikatika koi.

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.

Kua wehewehea nga tohunga ngaru Elliott ki te mea kua oti te ngaru 4 me nga wahanga ngaru 5 a BTCUSD, mena kei te haere tonu te ngaru 4 me te ngaru 5 kei te heke mai. Ma te whakamahi i enei ahuatanga e rua, ka taea te whakaaro etahi whaainga.

Things could get extremely bearish for Bitcoin if the cycle has ended | Source: BTCUSD i runga i te TradingView.com

Nga Aari me nga Whakataunga Bearish Me Bullish

In the bearish scenario, a ngaru tapahi 5 mutu te 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 whakatika papatahi whakawhānui, a ka mutu nga whakaaro me nga utu utu nui, ka tere atu te moni crypto o runga ki te whakatu i tetahi atu utu tino kaha me te whakawhiti whakaaro, tere atu i te mea kua rite mo tetahi.

Ko te ahua o te BTC kei roto i nga waahanga whakamutunga o te whakatikatika ngaru papatahi 4 | Puna: BTCUSD i runga i te TradingView.com

Using EWT To Make A Bitcoin Prediction Price

Ko te makutu kei muri i te Elliott Wave Theory me te aha e awe ai i te tipu o nga maakete putea na ona hononga ki nga nama Fibonacci. Fibonacci Ko nga nama kei runga i te raupapa Fibonacci, e pa ana ki te tauwehenga koura. Ko te raupapa Fibonacci ka panui 0, 1, 1, 2, 3, 5, 8, 13, 21 me etahi atu.

I roto i te Elliott Wave Theory, e 21 nga tauira whakatika mai i te ngawari ki te uaua. Ko te ngaru hihiri e 5 nga ngaru ki runga, ko nga ngaru whakatika e 3 nga ngaru ki raro, ka 8 te tapeke ina tapirihia. Ko te ngaru hihiko katoa me nga ngaru-iti katoa he 21 ngaru ki runga, ko nga wahanga whakatikatika ka eke ki te 13 ngaru ki raro. Ko nga tau Fibonacci katoa mai i te raupapa kua whakauruhia ki etahi waahanga.

Ka mutu ano nga whakatikatika i nga taumata whakahou o Fibonacci, ka tae nga hiahia ki nga toronga Fibonacci hei utu utu. He rite tonu te ngaru 5 ki te ngaru 1, ki te ngaru 3 ranei mo te nui. Mena ka whakaroahia te ngaru 5, he maha tonu kei roto i te crypto, ka taka te taumata o te ngaru 5 ki waenganui i te 1.618 o te ngaru 3, te 1.618 ranei o te huinga o te ngaru 1 me te ngaru 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.

Hanga tenei te 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.

He taea Bitcoin price prediction based on Fibonacci extensions | Source: BTCUSD i runga i te TradingView.com

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— Tony "The Bull" Spilotro (@tonyspilotroBTC) Hakihea 8, 2022

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