{"id":423246,"date":"2020-05-08T21:00:40","date_gmt":"2020-05-08T21:00:40","guid":{"rendered":"https:\/\/uniquehot.com\/?p=423246"},"modified":"2020-05-08T18:37:33","modified_gmt":"2020-05-08T18:37:33","slug":"crypto-analyst-highlights-last-ever-bitcoin-dip-using-elliott-wave-theory","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/crypto-analyst-highlights-last-ever-bitcoin-dip-using-elliott-wave-theory\/","title":{"rendered":"Crypto Analyst Highlights Last Ever Bitcoin Dip Using Elliott Wave Theory"},"content":{"rendered":"<p><a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> is trading just below the key level of $10,000, and a decisive break of resistance could kickstart the next crypto bull market.<\/p>\n<p>Any dips at this point in Bitcoin are likely meant for buying, and according to one prominent crypto analyst who has made a number of accurate calls, expects at least one more drop if Bitcoin continues to follow what the analyst says is an ABCDE correction.<\/p>\n<h2>Crypto Analyst Expects One More Crash In Bitcoin, Could It Be the Last Dip Ever?<\/h2>\n<p>If and when <a href=\"https:\/\/wyckoffsmi.com\/\" rel=\"nofollow\">Bitcoin price<\/a> breaks through $10,000 for the umpteenth time, it could be the last time the cryptocurrency ever trades below five-digits ever again.<\/p>\n<p>Although that time looks to be soon, one prominent crypto analyst expects one final dip in Bitcoin, which could be investors&#8217; last chance to ever purchase BTC at four-digit prices.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2020\/04\/24\/massive-bitcoin-miner-capitulation-could-act-as-launchpad-for-bull-market\/\">Massive Bitcoin Miner Capitulation Could Act As Launchpad For Bull Market\u00a0<\/a><\/strong><\/em><\/p>\n<p>Todd Butterfield is the owner of the <a href=\"https:\/\/wyckoffsmi.com\/\" target=\"_blank\" rel=\"noopener nofollow\">Wyckoff Stock Market Institute<\/a> founded by financial market legend Richard D. Wyckoff in 1931.<\/p>\n<p>Butterfield has made a number of successful calls throughout the recent bear market, and if his latest prediction is true, crypto investors will get that chance to buy BTC lower once again.<\/p>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> Daily roadmap I have been showing&#8230;. <a href=\"https:\/\/t.co\/Agext3GBTF\" rel=\"nofollow\">pic.twitter.com\/Agext3GBTF<\/a><\/p>\n<p>&mdash; Todd Butterfield (@WyckoffOnCrypto) <a href=\"https:\/\/twitter.com\/WyckoffOnCrypto\/status\/98608642?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 7, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Is BTC In An ABCDE Correction According To Elliott Wave Theory?<\/h2>\n<p>According to the analyst and his practicing Elliott Wave Theory on <a href=\"https:\/\/wyckoffsmi.com\/\" rel=\"nofollow\">Bitcoin price<\/a> charts, the asset is currently between wave 3 and wave 4 of a 5-wave impulse move.<\/p>\n<p>Wave 5 is often the strongest and moves in the primary count direction. In this case, the primary count is up.<\/p>\n<p>Within each wave count, exist sub-waves. Like other waves, they can be impulsive or corrective. Butterfield&#8217;s chart depicts what he expects to be an ABCDE correction, which is a five-wave correction that takes place within a triangle.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2020\/04\/28\/all-bitcoin-fundamentals-scream-buy-says-prominent-market-researcher\/\">All Bitcoin Fundamentals Scream \u201cBuy\u201d Says Prominent Market Researcher\u00a0<\/a><\/strong><\/em><\/p>\n<p><a href=\"https:\/\/uniquehot.com\/2019\/10\/24\/1000-btc-finding-bitcoins-bottom-could-be-as-easy-as-abc\/\">Unlike ABC corrections<\/a>, where C is typically lower than A, in ABCDE corrections the C and final E wave are higher than A.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-423258\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/05\/Screen-Shot-2020-05-08-at-2.35.49-PM.png?resize=860%2C571\" alt=\"bitcoin crypto btc elliot wave theory\" width=\"860\" height=\"571\"><\/p>\n<p>The price action of an ABCDE correction usually forms a triangle, which is the dominant chart pattern <a href=\"https:\/\/wyckoffsmi.com\/\" rel=\"nofollow\">Bitcoin price<\/a> is trading within across high timeframes.<\/p>\n<p>Butterfield is expecting a fall to roughly $5,600 one last time, which would indicate that a nearly 40% drop is coming before the final wave up.<\/p>\n<p>That last dip, however, will be the very best buying opportunity remaining, and the last chance to buy the leading cryptocurrency by market cap at low prices before the final triangle breakout and resulting bull market begins.<\/p>\n<p><a href=\"https:\/\/wyckoffsmi.com\/\" rel=\"nofollow\">Bitcoin price<\/a> targets recently revealed by a macro economist suggest that a breakout of the triangle could result in prices of $1 million per BTC.<\/p>\n<pre>Featured image from Pixabay<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is trading just below the key level of $10,000, and a decisive break of resistance could kickstart the next crypto bull market. Any dips at this point in Bitcoin are likely meant for buying, and according to one prominent crypto analyst who has made a number of accurate calls, expects at least one more drop if Bitcoin continues to follow what the analyst says is an ABCDE correction. Crypto Analyst Expects One More Crash In Bitcoin, Could It Be the Last Dip Ever? If and when Bitcoin price breaks through $10,000 for the umpteenth time, it could be the last time the cryptocurrency ever trades below five-digits ever again. Although that time looks to be soon, one prominent crypto analyst expects one final dip in Bitcoin, which could be investors&#8217; last chance to ever purchase BTC at four-digit prices. Related Reading | Massive Bitcoin Miner Capitulation Could Act As Launchpad For Bull Market\u00a0 Todd Butterfield is the owner of the Wyckoff Stock Market Institute founded by financial market legend Richard D. Wyckoff in 1931. Butterfield has made a number of successful calls throughout the recent bear market, and if his latest prediction is true, crypto investors will get that chance to buy BTC lower once again. &nbsp; $BTC Daily roadmap I have been showing&#8230;. pic.twitter.com\/Agext3GBTF &mdash; Todd Butterfield (@WyckoffOnCrypto) May 7, 2020 Is BTC In An ABCDE Correction According To Elliott Wave Theory? According to the analyst and his practicing Elliott Wave Theory on Bitcoin price charts, the asset is currently between wave 3 and wave 4 of a 5-wave impulse move. Wave 5 is often the strongest and moves in the primary count direction. In this case, the primary count is up. Within each wave count, exist sub-waves. Like other waves, they can be impulsive or corrective. Butterfield&#8217;s chart depicts what he expects to be an ABCDE correction, which is a five-wave correction that takes place within a triangle. Related Reading | All Bitcoin Fundamentals Scream \u201cBuy\u201d Says Prominent Market Researcher\u00a0 Unlike ABC corrections, where C is typically lower than A, in ABCDE corrections the C and final E wave are higher than A. The price action of an ABCDE correction usually forms a triangle, which is the dominant chart pattern Bitcoin price is trading within across high timeframes. Butterfield is expecting a fall to roughly $5,600 one last time, which would indicate that a nearly 40% drop is coming before the final wave up. That last dip, however, will be the very best buying opportunity remaining, and the last chance to buy the leading cryptocurrency by market cap at low prices before the final triangle breakout and resulting bull market begins. Bitcoin price targets recently revealed by a macro economist suggest that a breakout of the triangle could result in prices of $1 million per BTC. Featured image from Pixabay<\/p>\n","protected":false},"author":517,"featured_media":423256,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,6664,39984,78455],"class_list":["post-423246","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-crypto","tag-elliot-wave-theory","tag-todd-butterfield"],"acf":[],"yoast_head":"\n<title>Crypto Analyst Highlights Last Ever Bitcoin Dip Using Elliott Wave Theory<\/title>\n<meta name=\"description\" content=\"Bitcoin price is trading just below the key level of $10,000, and a decisive break of resistance could kickstart the next crypto bull market. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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