TonyTheBullSeverino

Bitcoin BTCUSD Daily (1D) Analysis – More Downside Ahead?

I'm sensing another leg down in Bitcoin before we get more of a bounce

Price rejected at former resistance turned support, now possibly back to resistance – which is the neckline of a double-top pattern

Especially if the LMACD diverges downward further below the zero line

Target based on the measure rule is a move back to $101K

Bitcoin BTCUSD Monthly Chande Momentum Oscillator

Each time this tool fell below 20 it was a bear market. Bull markets start with a break above 20.

I’m not making a call, just showing objective signals.

Confusing Bitcoin Corrective Phase Elliott Wave Alt Counts

All Elliott Wave analysts should have at least one alternative count that is opposite of their current count bias. For example, if you have a clear bullish impulse and you're expecting bullish continuation based on that, you should also have a potential bearish take and count for consideration.

I lean bullish because of how altcoins look, not so much Bitcoin. But a bearish Bitcoin would bring down the entire market.

Given the last post I did on momentum, a more substantial bearish correction is very possible, even if it isn't quite the cycle peak.

The important point of this alternative wave count is wave degree.

This correction might look and feel a lot like the 2022 correction, because it could be another Expanded Flat pattern. However, this would be of a smaller wave degree, so it won't be as long or as violent. It also would point to yet one more bullish wave up, taking Bitcoin well above $150K and possibly even higher.

Note tha