ON the weekly time frame there are 5 waves up and a clear A and B corrective wave. unless wave B breaks the ATH the drop to 60kish range remains in play. Target is the length of wave A measured from the base of wave B with target fib 1-1.386 fib or whatever. Looks like the 1.236 fib lines up perfectly with the equilibrium that would need to be retested still since breaking out of it. This is a weekly analysis so remember it will take a while to get all the way down there. If it morphs into a 5 wave down then the bottom of the channel btc has respected since inception would be likely target. lets see what happens but until the ATH is broken wave C drop is what the highest probability of playing out. 
BTCUSD
BTCUSD 
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.
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.