Current Bitcoin Market Overview
Bitcoin has reclaimed the $28,000 level, increasing the likelihood of a robust C-wave progression. After completing the C2-wave's abc correction phase, the market anticipates a powerful C3-wave upward surge.
Key Technical Observations
Previous Scenario Analysis:
- Initial projection suggested either:
a) Prolonged downtrend post-$28,000 resistance
b) Immediate C3-wave upward momentum - Current price action strongly favors the C-wave continuation pattern.
- Initial projection suggested either:
Trading Strategy:
- Wait for pullback confirmation before entering long positions.
- Monitor abc-subwave completion within C2 for optimal entry timing.
Wave Theory Application
The Elliott Wave Principle has demonstrated consistent accuracy in forecasting Bitcoin cycles:
- Successfully predicted April 2021 market top at $65,000
- Identified July 2021 bottom at $29,000
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Critical FAQs
Q: How long will the C2 correction last?
A: Typically 1-3 weeks, depending on market volatility. Watch for abc-subwave completion patterns.
Q: What price targets does C3 suggest?
A: Measured move projects minimum 161.8% Fibonacci extension from C1's termination point.
Q: How to manage risk during C-wave transitions?
A: Use trailing stops and scale-in positions to mitigate whipsaw volatility.
Trading Discipline Reminders
- Always maintain proper position sizing
- Never chase prices - wait for confirmed wave structures
- Combine wave counts with volume and momentum indicators
👉 Advanced position management techniques
Disclaimer: This analysis represents educational market commentary only. Cryptocurrency trading carries substantial risk - only trade with capital you can afford to lose.
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