Short
BTCCNY - Zoom out: Bottom is Near (in time)
After the near term bull trap finishes, price should continue down to bottom to complete Wave C and start new cycle to ATH, with bottom target of 1390.
Target of 1390 calculated by determining estimated end points of Waves C, V, 5 and v (and later little 5), by looking for fibonacci clusters that coincide with all waves (and little wave 5 once little waves 3 and 4 are complete):
(i) Wave C (of largest degree): Wave C = Waves A-B x 0.50 (50%) = 1390
(ii) Wave V (of Wave C of largest degree): Wave V = Waves I - III x 0.386 (38.6%) = 1390
(iii) Wave 5 (of Wave V of Wave C of largest degree): Wave 5 = Wave 1-3 x 1.618 (161.8%) = 1390
(iv) Wave v (of Wave 5 of Wave V of Wave C of largest degree): Wave v = Waves i-iii x 1.618 (161.8%) = 1390
(v) [to be calculated later to confirm) Wave little 5 (of Wave v of Wave 5 of of Wave V of Wave C of largest degree) x (0.386 or 0.500 or 0.618) = 1390 (hopefully)
Based on current charting, found no other fibonacci end points that coincide for these waves.
NOTE 1: Waves C and V charted in comments below.
NOTE 2: While I believe 1390 is the target end-point for Wave C (largest degree), there is a possibility that it is the end-point for Wave A.
Target of 1390 calculated by determining estimated end points of Waves C, V, 5 and v (and later little 5), by looking for fibonacci clusters that coincide with all waves (and little wave 5 once little waves 3 and 4 are complete):
(i) Wave C (of largest degree): Wave C = Waves A-B x 0.50 (50%) = 1390
(ii) Wave V (of Wave C of largest degree): Wave V = Waves I - III x 0.386 (38.6%) = 1390
(iii) Wave 5 (of Wave V of Wave C of largest degree): Wave 5 = Wave 1-3 x 1.618 (161.8%) = 1390
(iv) Wave v (of Wave 5 of Wave V of Wave C of largest degree): Wave v = Waves i-iii x 1.618 (161.8%) = 1390
(v) [to be calculated later to confirm) Wave little 5 (of Wave v of Wave 5 of of Wave V of Wave C of largest degree) x (0.386 or 0.500 or 0.618) = 1390 (hopefully)
Based on current charting, found no other fibonacci end points that coincide for these waves.
NOTE 1: Waves C and V charted in comments below.
NOTE 2: While I believe 1390 is the target end-point for Wave C (largest degree), there is a possibility that it is the end-point for Wave A.
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