BTC Monthy View
Recent movement shows btc rejected on the trendline resistance of the connected ATH starting point of 2017.
Establish a Bullish Cypher from the previous cycle with main PRZ around 21k and Target extensions sitting at 98k~117k.
Starting point of 2022 ATL, establish a 5wave count uptrend.
Plot ABCD pattern where AB=CD around 98k, "C" retracement fib0.50 = "BC" extension fib2.0. If this pattern plays-out, TP1 could be aim at "C"=50k, following TPs at CD*1272/1618.
A Gravestone Doji has been printed on the monthly candle closing, next bearish pattern continuation for this will be an Evening Star.
On the otherside, a breakout of trendline and an extension of Wave5 could still be possible since current cycle carry the loads of ETFs.
Establish a Bullish Cypher from the previous cycle with main PRZ around 21k and Target extensions sitting at 98k~117k.
Starting point of 2022 ATL, establish a 5wave count uptrend.
Plot ABCD pattern where AB=CD around 98k, "C" retracement fib0.50 = "BC" extension fib2.0. If this pattern plays-out, TP1 could be aim at "C"=50k, following TPs at CD*1272/1618.
A Gravestone Doji has been printed on the monthly candle closing, next bearish pattern continuation for this will be an Evening Star.
On the otherside, a breakout of trendline and an extension of Wave5 could still be possible since current cycle carry the loads of ETFs.
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