- The new bull market on Bitcoin started with a strong impulsive structure, which is definitely a positive sign. We have an unfilled CME GAP at 20,000 – 20,450, and there is a very high chance that the market will fill the GAP; I would say 90%. We can fill this gap next week, next month, or next year, believe it or not. It happened during the COVID flash crash.
- If we fill this gap, you want to buy as much bitcoin as possible for the long term investment! I expect this bull market to end in September 2025, so we have plenty of time! And what is my ultimate profit target at the end of the bull market in 2025? I showed you the previous analysis, so check it out!
- This analysis is a bullish idea, where you can buy BTC if the price drops. If you feel FOMO and you need to buy cheap Bitcoin , then 20,000 USDT is a reasonable price for you. We already bought Bitcoin at 16,500 privately for the long term investment on the spot, and I do not touch these bitcoins .
- This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
- On the chart, you can see my main Elliott Wave count. There are multiple valid Elliott Wave counts, but I am not able to show you all of them on the same chart. For example, wave 5 of wave 3 could still be in progress, and we could make an ending diagonal wedge . We should not go below the previous wave 1, which is at 18,373. Otherwise, this Elliott Wave count will be invalidated.
- The 0.618 LOG FIB is slightly above the wave 1, so this is like the worst-case scenario if a flash crash occurs to wipe out high leverage longs before continuing higher to 30k.
- I am very bullish on Bitcoin and my strategy is to not short Bitcoin at all. It’s better to trade longs only at this moment.
- Thank you, and for more ideas, hit “Like” and “Follow”!
