Covid 19 is what could be already labeled as a Black Swan in the Markets worldwide. A sharp and fast fall that might be yet in the beginning…
₿ITCOIN: Are we already in wave 3 of Wave V?
My analysis for the medium and long term remains the same as bellow:
In terms of Elliott Waves’ theory, I understand BTC has now started wave 3 of the big Wave V of the upward cycle that started in June 2012 at the $5,00 level. After all, no Asset price starts at zero and that’s why we do not consider the movement from $0.06 to $35.00 that happened in 2010/11 in our Elliott Wave cycle analysis. With that in mind, the projections that one could forecast for Bitcoin are astonishing:
– If it only repeats wave 5 of WAVE III – $ 65k
– If it repeats WAVE III – $ 340k
– If it repeats WAVE I – $ 720k
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THIS ANALYSIS REPORT WAS PREPARED BY FAUSTO DE ARRUDA BOTELHO, ANALISTA DE VALORES MOBILIÁRIOS (“ANALYST”), PROPERLY CERTIFIED BY APIMEC NACIONAL (BRAZILIAN MARKET AUTHORITY ELECTED BY CVM), TO EXERCISE THAT FUNCTION IN ACCORDANCE WITH CVM INSTRUCTION No. 598, OF MAY 3, 2018. THE ANALYST DECLARES THAT THE RECOMMENDATIONS OF THE ANALYSIS REPORT REFLECT ONLY AND EXCLUSIVELY HIS PERSONAL OPINIONS AND WERE INDEPENDENTLY PROCESSED. FOR ALL PURPOSE, ANY AND ALL PHYSICAL OR LEGAL PERSONS HAVING ACCESS TO THIS ANALYSIS REPORT WILL BE CONSIDERED USERS. THE ANALYST IS NOT RESPONSIBLE FOR ANY OF THE OPERATIONS WHICH ARE OR ARE COMING TO BE PERFORMED BY THE USERS AND DISCLAIM ANY AND ALL LIABILITY FOR ANY DIRECT OR INDIRECT PROFITS OR DAMAGES ARISING OUT OF THE USE OF ANY INFORMATION CONCERNING THE REPORTED ANALYSIS REPORT. THE USER HAS EXCLUSIVELY THE DECISION TO PURCHASE AND / OR SELL SECURITIES OR CONTRACTS TRADED ON A OTC (OVER THE COUNTER) OR EXCHANGE MARKET OR CRYPTO EXCHANGES AND THE POSSIBLE PROFIT OR LOSS ARISING FROM SUCH DECISION. THIS ANALYSIS REPORT CAN NOT BE REPRODUCED OR REDISTRIBUTED, WHOLLY OR IN PART, WITHOUT PRIOR WRITTEN CONSENT OF THE ANALYST.
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