BTC: 2014/2015 pattern still continuing.
Is BTC drawing the same pattern as we saw on 2014/2015?
First, a 70% drop from ATH 1.13% (from 1160 $ to 338 in 2014, from 20.000 to 5.840 in 2017) followed by a 100% recover form the bottom (from 338 to 675 in 2014, from 5.840 to around 11.800 in 2018). The last step is a drop to the 50% of the previous bottom: in 2014 it was 160 $, 50% of 338. Today it could be 2.900 $, 50% of 5.800.
Update: i wrote the statement above two weeks ago. Meanwhile BTC dumped again and G20 just gave a little boost to the price, but the lack of volume is still there. I think that we could see a bull trap in the following days with the price that could reach 9500 $ level and then a new dump to reach first 5000 and then 3000 levels in 3 or 4 months.
After that i'm expecting a new bull cycle with BTC at 100.000 $ in 2 years from now so this could be a great opportunity to buy. I base this idea also on other Elliot Waves TA that i saw on Youtube.
Disclaimer: this is a personal opinion, not an investment advice.
First, a 70% drop from ATH 1.13% (from 1160 $ to 338 in 2014, from 20.000 to 5.840 in 2017) followed by a 100% recover form the bottom (from 338 to 675 in 2014, from 5.840 to around 11.800 in 2018). The last step is a drop to the 50% of the previous bottom: in 2014 it was 160 $, 50% of 338. Today it could be 2.900 $, 50% of 5.800.
Update: i wrote the statement above two weeks ago. Meanwhile BTC dumped again and G20 just gave a little boost to the price, but the lack of volume is still there. I think that we could see a bull trap in the following days with the price that could reach 9500 $ level and then a new dump to reach first 5000 and then 3000 levels in 3 or 4 months.
After that i'm expecting a new bull cycle with BTC at 100.000 $ in 2 years from now so this could be a great opportunity to buy. I base this idea also on other Elliot Waves TA that i saw on Youtube.
Disclaimer: this is a personal opinion, not an investment advice.
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