Djili Jo
Djili Jo 2 minutes reading from Bitcoin

How would you react to $BTC Going to 10k$ or even 6k$

🚨 BTC Projection 🚨

How would you react if BTC goes to 10k or even 6k?

First of all, please note that I am not saying it will go there for sure, it is just to demonstrate you that based on Elliott waves, those targets are not so crazy and that everything can happen

1/5 🧡

It seems that the whole preceding move was a wave 1 and now we are building the corrective wave 2.

The target for a wave 2 is in general between 0,5 & 0,618 (73% of chance) and sometimes 0,786 (less than 15% chance) if it is a really strong corrective move.

2/5

When we apply a simple fibonacci retracement from the root of the move until the top, this is what we get.

Magically, the above mentioned ratios correspond to 2 strong supports.

3/5

And if you saw my tweet on Open Interests (OI) yesterday, you understood that OI is still way too high. Market needs to be cleaned out and OI need to get back to a normal level

Many people are still waiting sideline hoping for 12-14k and market never gives you what you want

4/5

As a conclusion

πŸ‘‰I have no clue where it is heading even if I am leaning rather towards the bearish scenario. Maybe bottom is in

πŸ‘‰This demonstration is based on many assumption not yet verified

πŸ‘‰ Sometimes better to wait for a confirmation to enter and miss +30% profit

5/5

This post is based on this twitter thread.

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