Elliott Wave Time Target Says Bubble Begins Inflating In July

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Based off of the very long-term Neely-Elliott Wave count, Wave-F needs a few more months of sideways action before we start breaking up away from the green trendline. The time target is saying wave-F should end sometime around July, and we will begin a violent wave-G up. This G-wave will bring several cryptos to multi-trillion dollar market caps. At which point, we will see the 12 year Bitcoin bubble ending, and we could see a very long-term (10 year+) correction beginning after that point.

It's likely that we've already hit the lowest price, but there is a small chance we could go lower before July. Most likely price will slowly drift sideways and up until around July, at which point it will finally break away from the trendline and begin a violent advance similar to what we saw in 2013 and 2017. Most top cryptocurrencies should follow a similar pattern and see violent advances beginning in July.

For now I am remaining neutral/bullish until July, at which point I will take a more aggressive bullish position if my analysis continues to hold water.

More analysis is posted regularly in my personal TV Chatroom: tradingview.com/chat/

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ملاحظة

The Three Day looks like we may need to get another wave that takes us to at least 2600 by April, but there's a good chance this will be the bottom and we'll make a higher low in July

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ملاحظة

I was looking at this chart from over 3 years ago. I managed to call BTC bottom in 2019, as well as calling BTC going to 69k at the same time (red box). My timing was a little bit off but overall my price forecast was dead on.

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