Elliott Wave Update
I have been withou WiFi but will return this evening and post a follow up video. I know many are suffering and have already sold in panic. I understand. For me, I’m actually very excited!! I believe there is one more blowoff top coming and the below charts show the count toward that path.
Haejin, do you think the rumour of the Fed hiking interest rates in March gives support for the ABCDE triangle and extended period of consolidation, maybe another BTFD event (E overthrow) then moon in summer?
Or do you see a stock market decoupling from crypto as ppl reduce risky assets
The abcde is alternate; but from a count perspective, wave A has five subwaves which is not good; abcde has such that each has three wave moves.
However, does the Fed rate changes affect BTC? Well, from a liquidity sense, yes. However, the rate hikes will be like dismally negligible. I think it’s about 8% or so which is when interested paid on gove bonds will exceed the taxes collected. The Fed knows this and going higher on rates to that point will be suicidal.
also, do you see any alternate counts where we just consolidate for the entire 2022, and moon in 2023?
Not to that degree, but 3rd alternate could be: https://www.tradingview.com/x/wwQzfL3Q/
But it has problems in that wave A has five waves which can’t be for an expanded flat.