BTC BTC is slowly completing major impulse up. Wave 1-2 of major impulse that lasted Dec 2009 - Oct 2011 are giving us map for all following waves as each wave is respecting the structure of Major wave 1-2 (see blue pattern).
Knowing this we can see that wave 3 was respecting wave 1-2 structure and reached top in Dec 2017 at 20k$ level and correction that lasted till Jan 2019 was wave 4 which finished at ca. 3k$ price range.
We are now in last wave 5 where again we are respecting major wave 1-2 structure (see red pattern) and have already done subwaves 1-4. Currently we are working on wave 5of5 where we are left with one last crazy run for blowoff top. Expecting push that will bring us above major fibb 4.236 range (265k$) and will most likely make top arround 375k$ range. Make sure to secure profits on time and do not go chasing tops as it usually ends badly, rather do DCA profit taking. Once we complete major wave 5 expect big dump bringing price back to major wave 4 aka 3k$ range.
Knowing this we can see that wave 3 was respecting wave 1-2 structure and reached top in Dec 2017 at 20k$ level and correction that lasted till Jan 2019 was wave 4 which finished at ca. 3k$ price range.
We are now in last wave 5 where again we are respecting major wave 1-2 structure (see red pattern) and have already done subwaves 1-4. Currently we are working on wave 5of5 where we are left with one last crazy run for blowoff top. Expecting push that will bring us above major fibb 4.236 range (265k$) and will most likely make top arround 375k$ range. Make sure to secure profits on time and do not go chasing tops as it usually ends badly, rather do DCA profit taking. Once we complete major wave 5 expect big dump bringing price back to major wave 4 aka 3k$ range.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.