Disclaimer: This is for competition entry only into Bear + Bull Discord, macro view TA Challenge ONLY.
- Recent price action continues to respect the downtrend (Purple Dashed Line)
- First Half 2019 price action will recover 2018 highs
ABC Corrective wave will be complete by end of Jan 19, a final 'capitulation' wick is likely to bounce off the Weekly 200MA and the Weekly OB of $5.3k.
An Elliot wave will take the price action back to $14k based on Bullish sentiment leading into the halving event.
Wave 3 will be fast (likely within a monthly candle) leading to a quick sell off, with the completion of wave 5 prior to the halving.
The corrective wave will also from a H&S which could result in a more heavy sell off in 2020Q3.
Key Aspects:
- Completion of current corrective wave structure ~ $5.3k (Weekly OB and Weekly 200MA)
- Wave 1, target golden fib of 2019 bullish price structure
- Wave 3, target $11.5k
- Wave 5, target $13.9k
- Following the halving event a corrective wave structure is predicted and a target of $11.5k for 30/6/20
- Recent price action continues to respect the downtrend (Purple Dashed Line)
- First Half 2019 price action will recover 2018 highs
ABC Corrective wave will be complete by end of Jan 19, a final 'capitulation' wick is likely to bounce off the Weekly 200MA and the Weekly OB of $5.3k.
An Elliot wave will take the price action back to $14k based on Bullish sentiment leading into the halving event.
Wave 3 will be fast (likely within a monthly candle) leading to a quick sell off, with the completion of wave 5 prior to the halving.
The corrective wave will also from a H&S which could result in a more heavy sell off in 2020Q3.
Key Aspects:
- Completion of current corrective wave structure ~ $5.3k (Weekly OB and Weekly 200MA)
- Wave 1, target golden fib of 2019 bullish price structure
- Wave 3, target $11.5k
- Wave 5, target $13.9k
- Following the halving event a corrective wave structure is predicted and a target of $11.5k for 30/6/20
Comment:
Halving Price is predicted ~ $13k
Spotted after edit timeframe expired :-)