The bubble has popped, but now for real! We can reach 3000 USD next year without any problem because this exponential growth in bitcoin is over.
As you can see on the chart, we had a very nice parabolic uptrend, but nothing lasts forever, and it's not sustainable to hold this curve.
We need to cool down for a few years so we can start a new uptrend (wave 3) in the long run. Bitcoin is clearly losing steam on the monthly chart.
Satoshi Craig Wright in 2020 said "BTC is not going to go to $100,000". Never? Is he right or not? Tell me in the comment section!
It looks like everyone who bought bitcoin in the last 5 years is too late to the party.
The 12-month candle is printed as a shooting star, which is indeed extremely bearish. The major trendline from 2013 is breaking down, which is definitely not a positive sign!
As per my Elliott Wave analysis, we have finished a major impulse wave and we are looking for an ABC retracement. The usual target of a C wave is at the start of wave 4.
The price is below the 200 weekly moving average for the first time in history. This MA is considered a strong support by huge institutions and hedge funds. It's very important.
I expect tremendous gains for GLM (golem). You can find this altcoin in the related section down below.
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