C&B Market Outlook & Performance Review, May 31 2022

As we have seen on Monday a bullish rally started not only in cryptocurrency market but also in US Stock Market. We have also forecasted in our March 29 report that the C wave of the Elliot pattern should be ended in $28,000 area on BTC-USD.

Therefore, we expect a bullish wave happening at least to $44,000 on Bitcoin which is the 0.81 Fibonacci Retracement of the B wave of the Elliot wave Pattern.

We Presume 2 Scenarios for the market for the upcoming month:

Frist Scenario: Forming an X Wave of the Elliot Wave Pattern from here to $44,000 area and a new Flat Correction Happens after that for the following month. (Please refer to the chart below)

Second Scenario: The second scenario could be an Impulse wave which can start from here until the end of the year targeting $70,000 on BTC. (Please refer to the chart below)

From the 11th of May we entered a sideway market and we broke the high of the channel on the 30th of May and had a pullback as well.

As you can see in the snapshot below, we added all of our trades on the chart and captured almost 100% of each wave that happened for the past 20 days which was a phenomenal performance from our LMDD Strategy.

We divided our trades into Scalping in shorter time frame and Swinging the larger waves in 4H charts.