Bitcoin: The Bear Market Rally Is Extending

Bitcoin is pushing toward 75,000 dollars right now and a lot of people are calling for a new bull market. I disagree, and in this video I walk you through exactly why this push is still part of the corrective bounce I called out in my Bear Market Rally video. The B wave is extending, which is normal and expected, but the bigger structure has not changed. This is still a counter trend bounce inside a larger bear market.

What we cover:
– Why the push to 75K is exactly what I expected and not a thesis change
– The 21 week EMA at around 79K and why it matters
– The 2022 fractal showing the same pattern playing out right now
– Realistic targets for the B wave between 87K and 95K
– The key support level at 65K and why I raised it from the February low
– The shorter timeframe structure and the five wave move from March
– What I need to see for a real bullish reversal
– The exact signals that will tell us when the local top is in
– The difference between short term bullish and bigger picture bearish

I have been cautiously bullish on Bitcoin since February and I have communicated that clearly in the videos and in the member updates on Discord.

🔔 Subscribe for daily Bitcoin and altcoin analysis combining Elliott Wave with macro context.

00:00 Bitcoin Pushes Toward 75K And Why It Does Not Change The Thesis
01:00 The 21 Week EMA And The 2022 Fractal
02:30 The Larger Picture: Still A Counter Trend Bounce
03:21 Why The B Wave Can Extend To 87 To 95K
04:30 The Key Support At 65K
05:30 What I Need To See For A Real Bullish Reversal
06:33 The Five Wave Bullish Scenario Explained
07:30 Short Term Structure And The Five Wave Move From March
08:30 The Resistance Zone At The April And March Highs
09:44 Distinguishing Higher Degree Thesis From Microstructure
10:30 Outlook And Closing
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