BTC Could Drop On Macro Capitulation (Elliott Wave)

So far the bounce off of what I had previously marked wave-c has been very weak and given no confirmation that wave-c is completed. That means wave-c is likely going to take longer and go lower. The later time target for wave-c is around the middle of June and it will probably go as low 30k-22k. This will likely be accompanied by a global macro correction as interest rates increase and the bond market continues its collapse.

After this capitulation wave I suspect we'll see a quick recovery back to around the previous all time highs.

Trade stängt manuellt:

Taking profit on shorts here is probably a good idea, it's only dropped about $1000 from where I posted this chart but this stinks of a bear trap.

I'm not eliminating this possibility but it does seem bullish here, especially TRX which seems extremely bullish on USDD fundamentals as well as on the TRXBTC charts

Trade stängt: målet nått:

Hit my time target dead on and very close to the lower price target.