The appearance of Elliot wave in the Bleed Dragon pattern
Currently, the previous high is 3 waves in the mid- to long-term, and this low is in the mid- to long-term 4 wave and then the 5 wave is in progress.
The current wave position is the 5-2-2-2-C position, and it appears to have broken upwards in a falling wedge pattern.
After this lows update, there were two definite impulse waves.
After the 2nd wave adjustment, the 3rd wave, the strongest wave, remains, and the 5-3-3 wave appears to be left on the wave count.
There is a high possibility that two strong waves will overlap and a strong shot will come out as a good news or a good issue.
As for the Bitcoin decline perspective, there are still five long-term waves left, so the previous low of 28K is a bottom that cannot be seen for the time being, and the bull market is maintained.
In on-chainnet data, a huge amount of over-the-counter transactions have occurred since then, and the amount of holdings on the exchange has decreased to the level at the beginning of the 2020 market.
This is a strong bullish signal, we will also brief you on the changing wave in the future.
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