BTC Currently In Wave-B, Expect Significant Retracement
Hi guys,
I just wanted to show a pattern that I found, that I believe BTC is likely going to approximately follow for a while. I believe we are in Wave-B currently, and I believe that it is playing out a very magnified version of the drop that we experienced on May 17th. I have copied and stretched the pattern to best fit what we are currently seeing on BTC, and overall I think it's following it pretty well. I've included high and low versions of the pattern as lines to give a range, as well as the H/L bars to give a sense of what the pattern actually can look like. It's probably a bit ricky to pick exact targets from this pattern, but it will give you an overall sense of major events that may happen. You could probably use major S/R lines, MAs and trendlines to pick reasonable targets with the provided pattern though (that's what I will do if I can't get a reliable E-Wave count).
Since we are currently in Wave-B, I don't believe that we are in the actual bull run yet unfortunately. I think that this wave will end around December 15th this year, and immediately following its end we will begin Wave-C and experience another crash like we did at the end of 2017. When the time comes, if it does play out like this, I can provide approximate targets and times for Wave-C, but don't expect a true bullrun and new BTC highs for another couple of years.
I just wanted to show a pattern that I found, that I believe BTC is likely going to approximately follow for a while. I believe we are in Wave-B currently, and I believe that it is playing out a very magnified version of the drop that we experienced on May 17th. I have copied and stretched the pattern to best fit what we are currently seeing on BTC, and overall I think it's following it pretty well. I've included high and low versions of the pattern as lines to give a range, as well as the H/L bars to give a sense of what the pattern actually can look like. It's probably a bit ricky to pick exact targets from this pattern, but it will give you an overall sense of major events that may happen. You could probably use major S/R lines, MAs and trendlines to pick reasonable targets with the provided pattern though (that's what I will do if I can't get a reliable E-Wave count).
Since we are currently in Wave-B, I don't believe that we are in the actual bull run yet unfortunately. I think that this wave will end around December 15th this year, and immediately following its end we will begin Wave-C and experience another crash like we did at the end of 2017. When the time comes, if it does play out like this, I can provide approximate targets and times for Wave-C, but don't expect a true bullrun and new BTC highs for another couple of years.
Expecting something in the range of 7000 very soon, at the next big drop.