Dear subscribers
As the majority of traders celebrate Christmas and spend time with their families, the market continues to trade sideways.
I really enjoy the calm ambience which is typical for the Christmas holidays in my home country, and I hope that everyone of you can relax after this challenging year...
Meanwhile, bitcoin and the whole market remain pretty much flat after they established a small top at 18'400$. I took some time to look at other people's ideas on here, and I guess that most traders are split between 50% "The bull run is back" and 50% "We are going to see a new low!".
My team and I remain bearish for bitcoin, especially after we correctly predicted another major correction back in October!
The market was trading around 19'600$ at the time, "thanks" to the FTX Collapse we crashed to 15'600$. Now take a closer look at the highlighted 1.414 extension back then and see for yourself how accurately this target was reached...
So yeah... We are still expecting another wave down, mainly because of our count and the leading diagonal which points towards a classic "ending movement" in a wave 5.
Additionally, I want to announce that we are going to start to cover bitcoin and ethereum more frequently in different micro counts in the next year. A lot of people reached out to us because we didn't regularly update our counts and ideas, I promise that we are going to make a BIG change in 2023 regarding this.
Enjoy the holidays!
Benjamin Mendenmein
As the majority of traders celebrate Christmas and spend time with their families, the market continues to trade sideways.
I really enjoy the calm ambience which is typical for the Christmas holidays in my home country, and I hope that everyone of you can relax after this challenging year...
Meanwhile, bitcoin and the whole market remain pretty much flat after they established a small top at 18'400$. I took some time to look at other people's ideas on here, and I guess that most traders are split between 50% "The bull run is back" and 50% "We are going to see a new low!".
My team and I remain bearish for bitcoin, especially after we correctly predicted another major correction back in October!
The market was trading around 19'600$ at the time, "thanks" to the FTX Collapse we crashed to 15'600$. Now take a closer look at the highlighted 1.414 extension back then and see for yourself how accurately this target was reached...
So yeah... We are still expecting another wave down, mainly because of our count and the leading diagonal which points towards a classic "ending movement" in a wave 5.
Additionally, I want to announce that we are going to start to cover bitcoin and ethereum more frequently in different micro counts in the next year. A lot of people reached out to us because we didn't regularly update our counts and ideas, I promise that we are going to make a BIG change in 2023 regarding this.
Enjoy the holidays!
Benjamin Mendenmein
Komentar:
Thursday update:
Nothing changed here really in the last days...
We broke out of the small triangle in wave b and I expect a last push upwards in wave c.
From there on bitcoin should correct to my designated target zone 14'000 - 13'000.
Nothing changed here really in the last days...
We broke out of the small triangle in wave b and I expect a last push upwards in wave c.
From there on bitcoin should correct to my designated target zone 14'000 - 13'000.
If you should have any questions regarding our analysis or elliot wave counts feel free to contact us.
Entry: Now or @ 17'200$
Stop-loss: 18'400$
Take profit 1: 14'000$
Take profi 2: 13'200$