Bitcoin: 10k October 10
Updated
The 235 day cycle in Bitcoin corresponds with major highs in the overall price. Our current cycle completes on October 10, signalling the end of the megabull and the beginning of a bear trend (historically speaking). During past megabulls we always got parabolic shifts in price, something that hasn't really happened yet in the current bull market. I believe this parabolic move, fueled by FOMO, will be triggered if we break past the logarithmic resistance shown on this chart. This resistance has been tested on multiple occasions in 2017 and always resulted in a sell-off. Recently we hit the resistance exactly when the China FUD started; it was merely a ploy to shake out weak hands and allow smart money to scoop up BTC on the cheap.
This prediction for 10k can also be supported by Elliot Wave Theory. Bitcoin's price structure currently follows the Elliot Wave sequence and fulfills the requirements which make it valid.
- Elliott Wave (2) cannot retrace past the start of Elliott Wave (1)
- Elliott Wave (3) cannot be the shortest wave in a completed 5 wave sequence
- Elliott Wave (4) cannot retrace into Elliott Wave (1)
Furthermore; Elliot Wave Theory dictates that following the completion of 5 waves, an (A, B, C) correction will take place before the new up-trend begins. This correction would complete over the duration of our next 235 day cycle.
mtpredictor.com/pages/Elliott-Wave-Rules
Refer to an idea I posted at STIA earlier this year, predicting 10k and covering 235 day cycle:
Refer to Lowstrife's 235 day cycle idea for more info on that:
This prediction for 10k can also be supported by Elliot Wave Theory. Bitcoin's price structure currently follows the Elliot Wave sequence and fulfills the requirements which make it valid.
- Elliott Wave (2) cannot retrace past the start of Elliott Wave (1)
- Elliott Wave (3) cannot be the shortest wave in a completed 5 wave sequence
- Elliott Wave (4) cannot retrace into Elliott Wave (1)
Furthermore; Elliot Wave Theory dictates that following the completion of 5 waves, an (A, B, C) correction will take place before the new up-trend begins. This correction would complete over the duration of our next 235 day cycle.
mtpredictor.com/pages/Elliott-Wave-Rules
Refer to an idea I posted at STIA earlier this year, predicting 10k and covering 235 day cycle:
Refer to Lowstrife's 235 day cycle idea for more info on that:
Note
This is going to take a bit longer than Oct 9... but we are making good progress. Only resistance standing in our way now is 5k and the Log resistance. Shouldn't be too hard to break past thanks to FOMO and Bitcoin regaining its marketcap dominance.Trade closed: target reached
GG we are here!
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