The dump of 0.5-1 year is not the bear market, just a correction. We can conclude that the we have not even seen the true bear market. It can lasts 3-4 years before the new super bull market. I hope we will catch the exact bottom before the wave 5.Īlso I want you to notice that after wave 5 the true A-B-C correction is going to happen. The best indication that the bear market is going to end is the bullish double divergence on the 1W timeframe. We can see very soon at least the test of the low at $17500 – in this case the wave 5 is trimmed, or setting the new low at $14-15k – normal wave 5.

We defined this end according to bearish divergence on the 1D timeframe. But on November 6 trended upward, hitting successive all-time highs on November 9 and 10. As of November 5, BTC had been trading at just above 60,000.

Bitcoin (BTC) has had a dramatic month of November, hitting a new all-time high, but is currently down. We can clearly see the waves 1, 2 and 3, now the price ended the wave 4. This week’s price movements for Bitcoin (BTC), gold, and our stock pick Nvidia. Wave 4 is the wave for the profit taking and we can see that even now a lot of traders have 10x+ on some altcoins and even the current prices are appropriate for selling. Those who are aware of the Elliott wave’s theory knows that the flat corrections have the structure a-b-c(wave a) – a-b-c(wave b) – 1-2-3-4-5(wave c). The most impulsive wave 3 ended in April 2021, not in November! This is because the wave 4 is obviously represented as the flat correction. After that there was the wave 1, which most of traders call another one bull market, but it’s just the part of the true bull market.

If we take a look at the chart we can see that there are no doubts that the bull market started in December 2018. Now I wanna show you this wave 5 in global cycle. The Bitcoin now is dumping as I said earlier and I told you many times that it have to draw the last wave 5 before the new bull market. Today I decided to share with you my global market understanding.

Overview bitcoin november