In a video using Elliott Waves, Credible Crypto thus mapped out a move to a new macro top of between $100,000 and $200,000 for Bitcoin before a drawdown which could take liquidity at $30,000 or under.

“These lows that have built up — we don’t have to take them now; we could very well continue up for the fifth wave,” he explained.

He added that there was “nothing wrong” with expecting a sweep of the lows after November 2021’s all-time highs.

“But again, based on market context and everything else that I’ve seen, I think that’s a little bit more unlikely; I think it’s a lot more likely that we leave these lows untapped and simply continue up.”

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