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

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Thu, Zvita 8, 2022 5:25 PM

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

chero Bitcoin price prediction is just a guess without a basis to make the forecast. The stock-kuye-kuyerera muenzaniso iyo yaimbova chikonzero chakanyanya kutaurwa chekutarisira kwemitengo yakakwira yakundikana, ichisiya kuongororwa kwehunyanzvi, zviratidzo zvemaketani, uye manhamba semukana wakanakisa wekuwana zvinangwa zvemutengo weramangwana.

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 mutengo.

Nhoroondo Pfupi yeBTC Mutengo Wekuita

The 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.

Kubva pane yakaderera inosvika madhora maviri, imwe bhurosi yekukurudzira yakawedzera imwezve makumi matanhatu muzana ROI nepamusoro pe2013. Asi chimwe chinhanho chekugadzirisa chakatevera, kucheka cryptocurrency pasi ne86%.

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.

Nhanganyaya kuElliott Wave Theory

Kutanga kuwanikwa naRalph Nelson Elliott muma1930s, Elliott Wave Theory ndiyo hwaro hwekutsanangura kuti misika inokura sei nekufamba kwenguva. Iyo motive wave muEWT muenzaniso wemisika inofamba nhanho nhatu kumberi, uye nhanho mbiri kumashure.

Aya matanho anochinjana kumashure nekudzoka pakati pekukura nekugadzirisa zvikamu. Mafungu eMotive anosanganisira masaisai mashanu pamwe chete - ane masaisai ane nhamba asinganzwisisike ari kufamba achienda kwaakananga, uye kunyange masaisai ane nhamba anofamba achipikisana nawo.

Kunyangwe matanho ekugadzirisa achikonzera kudzikira kwakanyanya mukukosha, kukura kwekuwedzera kunogara kuri mugwara rekutanga. Masaisai, ese ari maviri anomhanyisa uye anogadzirisa zvese zvinoonekwa mumadhigirii akasiyana uye nguva.

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.

Kuongorora Iyo Yazvino Musika Kutenderera, Maererano neEWT

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.

Inenge rally yese yakadzoserwa, inova hunhu hunozivikanwa hwea wave 2 kugadzirisa. Kugadziridza kunowanzo chinjana pakati pekupinza uye flat-style kugadzirisa. Kururamisa kwakapinza kunomiririrwa ne zig-zags. Wave 2 yaiita kunge zigzag uye hapana kuramba kuti iyo Kurume 2020. Nhema China kudonha kwaive kugadzirisa kwakapinza.

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.

Elliott Wave varapi vakakamurwa pakati kana BTCUSD yapedza wave 4 uye wave 5 nhanho, kana wave 4 ichiri kuenderera uye wave 5 ichiri kuuya. Uchishandisa zviitiko zviviri izvi, zvimwe zvinangwa zvinogona kutariswa.

Iyo Bearish uye Bullish Mamiriro uye Zvinangwa

Muchiitiko chebearish, a truncated wave 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 yakawedzera flat kururamiswa, uye kamwe manzwiro uye mutengo kunyanyisa apedza, pamusoro cryptocurrency achava nokukurumidza kure kugadza imwe bullish mutengo kunonyanyisa uye manzwiro chinja, zvikuru nokukurumidza kupfuura munhu akagadzirira.

Using EWT To Make A Bitcoin Kufanirwa Kwemutengo

Iwo mashiripiti ari kuseri kweElliott Wave Theory uye nei ichipesvedzera kukura mumisika yemari imhaka yehukama hwayo nenhamba dzeFibonacci. Fibonacci nhamba dzinobva pane Fibonacci sequence, iyo ine hukama nereshiyo yegoridhe. Kutevedzana kweFibonacci kunoverenga 0, 1, 1, 2, 3, 5, 8, 13, 21 zvichingodaro.

MuElliott Wave Theory, kune makumi maviri nerimwe ekugadzirisa maitiro kubva kune akapusa kusvika kune akaomarara. Motive wave mafungu mashanu kumusoro, ukuwo masaisai ekugadzirisa ari mafungu matatu pasi, achigadzira ese masere kana aawedzera. Iyo yakazara yakazadzika impulse wave ine ese mafungu-masaisai mafungu makumi maviri nerimwe kumusoro, nepo matanho ekugadzirisa anosvika gumi nematatu pasi. Yese nhamba yeFibonacci kubva mukutevedzana inosanganisirwa mune imwe nhanho.

Kururamisa zvakare kunomira paFibonacci retracement mazinga, uye mafungiro anosvika kuFibonacci ekuwedzera semitengo. Wave 5 rinowanzoenzana nesave 1 kana wave 3 maererano nehukuru. Kana wave 5 yakawedzerwa, uye kazhinji iri mucrypto, chinangwa chewave 5 chinogona kudonha pakati pe1.618 yewave 3, kana 1.618 yehuwandu hwewave 1 uye wave 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.

Izvi zvinogadzira iyo 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 KutengesaView.

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Original source: NhauBTC