This is like a man cave and people don't come here and try to look how enthusiastic what this elliott wave's show. I've seen some real life elliott wave traders and they're also bullish for Bitcoin. Looking at that with the projection of potentially getting $500k early 2026, it's still possible. So we're on the 4th wave already and waiting for the 5th one to reach.
or do you still want it to go to $50k after a whole year of waiting, with no bullish alternate count?
That would indicate the bear market if ever it goes back to $50k.Better to be in a man cave, rather than a bear cave !
The Elliott Waves of Bitcoin are starting to act like commodity markets, in two behaviours...
1. The first waves are developing as Leading Diagonals and the fifth waves are developing as Ending Diagonals. This formation of Diagonal waves are overlapping 3-3-3 structures as opposed to impulsive 1-2-3-4-5 wave structures. Consequently, when such Leading/Ending Diagonals are developing in early stages, it is often an assumption to consider such waves as Irregular B-waves at first.
2. The fifth wave is extended and longest; i.e. INTERMEDIATE(5) within PRIMARY[5] is subdividing and extending, which started from the NOV-2024 low.
When the fifth wave is extending and the longest, a completion price target is derived as a Fibonacci 1.618 times the length from the start of first wave to the end of the third wave, projected from the low of the fourth wave. This provides a possible price target of approx $2.3M by around the year 2030, that is, assuming the current uptrend of INTERMEDIATE(5) wave continues along the trendline starting from the NOV-2024 low...
