Bitcoin is completely controlled by banks and huge institutions. They pushed Bitcoin down just to make your Christmas and New Year celebrations bad. But fortunately, I warned you about this crisis a few days ago, right before it happened in my previous analysis, when almost everyone was drowning in strong greed. Bitcoin is down 15% so far; altcoins are down 30% to 70%.
The last few days have been very profitable, but let's focus on the future, because it is what matters most. Bitcoin rose slightly from 92k to 99k, giving players hope that the bottom has been reached. But don't be fooled, this seems to be a corrective move for several reasons.
The first reason is that the crash was very fast and strong, and almost no one expected such a drop in the short term. My Elliott wave analysis suggests that this is a strong impulse wave 12345 and thus the beginning of a larger corrective structure ABC. We've finished wave A, now we're in wave B, and we can expect wave C to finish around 85k! You want to take the Fibonacci extension, as you can see in my chart. I highly recommend waiting until 85k because we have an unfilled FVGAP on the daily chart, and that needs to be tested. Leave a comment with your altcoin, and I'll do an analysis for you in the reply. Also, please hit the boost button and follow me for more ideas.