In Elliot Wave Theory, a bullish impulse has a total count of 5 waves but this isn't all. There is something called an "extension." Extensions can lead not only to 9 total waves but even 13 waves.
We can easily see this happen if we consider Bitcoin's bull market based on the long-term chart structure, starting in November 2022, see the chart above.
A bull market is defined as a sequence of higher highs and higher lows. This is perfectly visible on this chart. Contrary to many Altcoins, Bitcoin is in a long-term bull market.
If we consider even some of the big Altcoins projects, we can see that no long-term bull market is present, many are producing lower lows, but at the same time, others are producing long-term uptrends like Tron. So there are variations.
Seeing a perfect long-term 5 waves pattern completed when Bitcoin hit $110,000 in January 2025, seeing a strong higher low and the continuation of this trend, we can easily conclude that an extension is taking place.
Will this extension end at 9 waves or 13 waves?
Bitcoin is going up. It is already happening. There will be more.
Thank you for reading.
Namaste.
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