Bitcoin has completed the Three Drivers to the Top pattern with 2.67 trend angle. The last wave can be considered as wave 3, but I see this formation more like AB leg of an extended flat correction.
Yes, the 3 drivers rally was actually a correction and real trend is yet to come.
Before the uptrend, which will probably have only little corrections like the wave 5 should be, C wave downwards to 1st support level expected.
Logarithmic Regression calculation hits a target around 21700.
Since this target should be seen as midline the uptrend mostly ends below (undervalued) or above (overvalued) this area.
www.wolframalpha.com/input/?i=e+^+(+0.00329800207260096++(+number+of+days+since+jul,+2009+%2Fdays+)+-0.102390514926083
My Agenda theory supports the current end of wave 3 with end of Metonic cycle (229 to 235 days) confirmation nearing after the mid-month rally.
I am expecting going sideways near the top for a while and a sharp correction in December.
Yes, the 3 drivers rally was actually a correction and real trend is yet to come.
Before the uptrend, which will probably have only little corrections like the wave 5 should be, C wave downwards to 1st support level expected.
Logarithmic Regression calculation hits a target around 21700.
Since this target should be seen as midline the uptrend mostly ends below (undervalued) or above (overvalued) this area.
www.wolframalpha.com/input/?i=e+^+(+0.00329800207260096++(+number+of+days+since+jul,+2009+%2Fdays+)+-0.102390514926083
My Agenda theory supports the current end of wave 3 with end of Metonic cycle (229 to 235 days) confirmation nearing after the mid-month rally.
I am expecting going sideways near the top for a while and a sharp correction in December.
Comment:
Today we saw market weakness and test by the market-movers. On this 13H chart TD count is 13 consecutive bars while on weekly chart 9 bars. This means there should come a correction. First support will be around 10000 area.
Comment:
Logarithmic bottom calculation.
www.wolframalpha.com/input/?i=10^(2.66167155005961++*+ln((number+of+days+since+2009+Jan+09)%2Fdays)+-+17.9183761889864)
www.wolframalpha.com/input/?i=10^(2.66167155005961++*+ln((number+of+days+since+2009+Jan+09)%2Fdays)+-+17.9183761889864)
Trade closed manually
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