Bitcoin EWP Analysis

Bitcoin Price has been in a bullish trend since 2016. But it has been having a hard correction for the last 2 months and it does not seem to have finished yet.

Following the sighting of the 20000 USD, the first drop to the level of 10000 USD .According to the elliott patern, this seems to be the first correction wave (A wave).After a brief rise, a wave B was formed and now we are including C wave.

C wave have to be 5 wave and 5th wave seems to have not happened yet.

But İf prices over 12000 usd level. then a new wave of bullishness may begin.

If the downward trend continues, the new bottom level may be between 5000-6000 USD.