We have witnessed the meteoric rise of bitcoin over the last 4.5 months from a mere $1,800 to $10,500. Now we shall witness the meteoric fall of bitcoin from $10,500 down to $1,800 over the next few months. Bitcoin is way over-bought. What we see now is a bubble and all bubbles must burst. Do not think for a second that we are on the S-curve that will only rise and rise because we are not there yet. I do believe that bitcoin will undergo the S-curve on its next giant wave but not this one. If you have sold your house and got into bitcoin a few months ago, I congratulate you but it's time to buy a bigger house now.
Kommentera:
Updated chart to include the iv wave that I likely missed earlier, although it does not affect the final target.
Kommentera:
We are in the red zone. If it does not go above the red zone, that means we are done.
Kommentera:
Bitcoin reached our targeted red zone and receded $1000 in less than 15 minutes. If this is the v wave of (5) wave, then the green zone would be a good range to buy back or add more to our stash.