• Since Apr’21, BTCUSD has been consolidating in a range.
• Wave (2) was relatively clean and simple. Wave (4) is thus likely to unfold as a more complex and frustrating correction.
• Dubious speculation: the $69K top might be the end of the B Wave in a running flat correction, and we are still in the C Wave, (4) in the larger wave count, which will bottom at around a weekly close of $35K by mid-Mar’22. OBV corroborates with this possibility.
• If so, then assuming Wave (5) starts mid-Mar’22, and reflects the strength and duration of Wave (1), then we can expect BTCUSD to close a weekly at approximately $125K end-Oct’22.
• We should pay more attention to the charts as it nears $35K.
• Wave (2) was relatively clean and simple. Wave (4) is thus likely to unfold as a more complex and frustrating correction.
• Dubious speculation: the $69K top might be the end of the B Wave in a running flat correction, and we are still in the C Wave, (4) in the larger wave count, which will bottom at around a weekly close of $35K by mid-Mar’22. OBV corroborates with this possibility.
• If so, then assuming Wave (5) starts mid-Mar’22, and reflects the strength and duration of Wave (1), then we can expect BTCUSD to close a weekly at approximately $125K end-Oct’22.
• We should pay more attention to the charts as it nears $35K.
Comment:
It's coming. Keep your dry powder ready...
Comment:
Even clearer on the 2-day line chart.
Comment:
But let's be patient. This will be frustrating, and this is BTC that we are looking at. Keep calm and maintain mental frame. We should be ready for such fluctuations after these years :)
Comment:
Daily (iv) forming at the moment. Waiting for the dump. Let's get this over and done with. This (4) has been long enough.
Comment:
Let's try to close the weekly at ~$34.6K. Let there be blood.
Comment:
It seems Wave 4 is not over yet. One more low to *at least* test resistance at $34K.
