Bitcoin Price Prediction: 13th January
Updated
This graph has been modified to reflect more accurately the ending diagonal pattern.
It also includes a comprehensive elliott wave count, up to the supercycle.
We are in Wave 4 of a supercycle, so can expect this correction to last a while longer yet - even if it does not retrace more deeply, to satisfy the EW principle of symmetry in time & price we would then expect a flat price for an extended time.
It also includes a comprehensive elliott wave count, up to the supercycle.
We are in Wave 4 of a supercycle, so can expect this correction to last a while longer yet - even if it does not retrace more deeply, to satisfy the EW principle of symmetry in time & price we would then expect a flat price for an extended time.
Note
I've removed the dashed red lines - which are the 100% and 127.2% (what is usually mistaken as 138.2%) fib extensions of Wave A. (Which Wave C is currently running Parallel to). Price reaching either of these levels would qualify it as a "running flat" corrective pattern.I've also removed the original blue ending diagonal prediction, to clear things up on the chart.
I've added in a blue ABC correction within the larger Wave C - this is a definite possibility - a running flat within a running flat. In this case we wouldn't see price drop much further, but stagnate for longer.
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