...but I'm probably wrong.
BITCOIN seems to have finished a 5-wave bullish cycle, although the fifth has been quite "poor" in terms of performance in my opinion, as we all expect a more extended wave.
However, what strikes me is that if we are at the end of the cycle, this would mark the end of a supercycle (in yellow).
The end of the cycle has been characterized by a wide retracement, reaching 80%, which would put us, applying FIBONACCI, around $33,000, however, if we were living the top of the supercycle, and taking the same retracement, this would leave us with a floor around $23,000...
Perhaps it is a bit early to anticipate it, but this last wave 5 has been unexpected in terms of expected scope and, in addition, we should be able to enjoy a bit more of a bull-run if we take into account the history etc..., however, the wave count could make sense...
The truth is that I wouldn't see it as disappointing; it would give me more time to accumulate BITCOIN at a good price and wait for the start of a new supercycle that dwarfs the previous one.
What do you think?
@toofasteddie