Not much has changed, we still need to see a break of the Wave iv low in order to see a reversal.
Since we broke the highs, this only indicated to me that we had one more high left.
So now we also need to see break of Wave 4 (32,050) and Wave iv (27,662).
I have marked out what I believe to be the entire Wave 3 move.
Wave 2 was expanded and sideways whilst Wave 4 was a simple correction.
Although Wave (C) of this Wave B is longer than Wave (A) I still firmly believe this will reverse shortly.
I have taken the measurement of Wave 1 and have placed the approximate target for Wave 5 at $51,611.
Historically Bitcoin tends to top ahead of the Dow Jones, see my latest Dow Jones idea linked below.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Since we broke the highs, this only indicated to me that we had one more high left.
So now we also need to see break of Wave 4 (32,050) and Wave iv (27,662).
I have marked out what I believe to be the entire Wave 3 move.
Wave 2 was expanded and sideways whilst Wave 4 was a simple correction.
Although Wave (C) of this Wave B is longer than Wave (A) I still firmly believe this will reverse shortly.
I have taken the measurement of Wave 1 and have placed the approximate target for Wave 5 at $51,611.
Historically Bitcoin tends to top ahead of the Dow Jones, see my latest Dow Jones idea linked below.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
