Hi traders,
Last 1k dump really made me sick and bearish.
I counted correction waves of 2014 crash and i see a lot of similarities within current btc crash waves.
My suggestion that we are currently in C wave of ABC correction.
I thing my wave count for 2014 crash is OK. The ratios of waves to each other are almost ideal. And similar wave count and pattern is seen in 2018 crash.
A and B waves of ABC correction have already occurred and now we are in C wave.
Crash in may would be start of impulse subwave 1 of C wave (blue waves), and crash at the beginning of august would be starting point of impulse subwave 3 of C wave.
Current crash probably started another impulsive subwave 3 (yellow waves) within impulse subwave 3 of C wave.
To cut short, if this purely bearish counting is working, dip is at 2.5k region, and this would be true bottom of triangle. If the bull comes, if it really comes, it might come up if it breaks this huge triangle up.
Comment:
Bounce to 5.6k may be possible here.
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