ThousandDollarBitcoin

Liquidity shake out 3-Jun-23 Price is currently completing short term B wave (see related) Short term drop to local demand zone will show support A breach of the liquidity pool above $30,000 may cause price to rapidly pullback to retest support Blue bar pattern taken from 24-April-23.

H&S Thu-Jun-23 The return move of the topping H&S pattern looks likely to extend into the local supply zone. Horizontal lines are Trade entries and stops. Numbered diagonal lines are fib speed fans. Blue lines are the head and shoulders and neckline. Yellow height is height of Head extended down from the neckline. Target is at the long term 0.33 fib at $23,561.

2 Year Forecast 27-May-23 The blue bar pattern is from 2019 An additional impulse wave would likely be extended, reaching approx $38,000. A buy opportunity will likely present at what will be the fourth wave ($26,000), at around the time of the halving. Final target at 1.272 extension of fib retracement from $1,000 to $70,000 This appears likely to be a final pump and dump for the entire crypto market before entering a decade long bear market.

Head and Shoulders 24-May-23 A confirmed head and shoulders suggests a potential downward move to 50% of initial impulse wave.

Sideways until late 2024 The recent price movement in bitcoin could be described as "a small wave after a big one". This same description could be applied to 2019. If price is to continue on a similar path to that of 2019 (bar pattern in blue), then we would see sideways trading for a a year or so, before a breakout to new highs. Supply and demand zones provide buy/sell opportunities (red and green lines)

10-May-23 Extended B wave to neckline of H&S at supply zone.

8-May-23 Elliot wave pattern looks likely to complete with a standard (not extended) 5 wave to the 1.272 fib extension.

$33,333 Price appears likely to be drawn into the liquidity pool above the psychologically significant level of $33,333, which is approximately 50% of the all time high.