$BTC/USD(BTCUSD.HAS)$Strategy(MSTR.US)

Looking at the bull market that started in '23, each wave has closely followed Elliott Wave Theory.

The first wave ran from the start to around 73k, the second wave retraced to 49k, the third wave broke through 100k, the fourth wave retraced to 74k (without falling below the first wave's high), and the fifth wave, which had the smallest gain, broke through to 120k before starting the ABC correction wave.

The ABC correction wave also looks very standard so far.

Wave A completed 5 sub-waves and directly broke below the 74k low of Wave 4, which usually signals the start of a bear market cycle. 60k currently looks like the low of Wave A.

The B wave rebound has now begun. Typically, the weaker the B wave rebound, the shallower the C wave decline. A strong B wave rebound often leads to a deeper C wave decline (it might not play out exactly like this and depends on news as well).

Personally, I predict Wave B might rebound to around 78k, or possibly to 82k-84k if it's strong.

Wave C could drop another 20% from Wave A's low, potentially retracing to around 48k, depending on market sentiment. After Wave C finishes, a period of consolidation and shakeout will begin a new cycle.

If Wave B rebounds to my expected level, I'll reduce my position or open short positions as a hedge, waiting to buy back during Wave C.

This is purely personal analysis and sharing, not investment advice!