History repeating itself! Target $4800-5000
Similar to the Dec-Jan consolidation and eventual recovery, we may be seeing the same consolidation pattern (1-2 Elliot wave) forming. This should take another 45 days to complete before arriving at the .236 (4800-5000). Coincidentally, my target is also 10 days away from the halving which should induce the subsequent 3 wave and reversal of the bearish trend. Keep in mind technicals can be skewed by general panic, but now that the coronavirus has settled in as a reality we shouldn't see the same levels of panic we saw around March 12th. Hit the like button if you agree and let me know what you think!
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