Wave i of Larger Wave 5 down complete ($5k-$6k BUYING TARGET)
- Look for wave ii bounce to $9k before heading lower
- Wave iii should get back to the ~$7400 region which was resistance before
- Wave iv bounce back up to ~$8000 (which is resistance now)
- Wave v destroys all bull hope as we head to $6000, potentially down to $5000
confluences:
- this would get us a 78.6% retracement from the larger $3k - $14k move
- this also forms what would be a HUGE falling wedge
if this is right, we'll get some unbelievable opportunities to buy around $5k-$6k in the early 2020 timeframe.
this sets up perfectly to start moving up going into the halving in May, and then skies the limit for $BTC (easily back to $20k, more than likely closer to $50k - $100k).
NOT FINANCIAL ADVICE. this is most likely incorrect and not going to happen.
- Wave iii should get back to the ~$7400 region which was resistance before
- Wave iv bounce back up to ~$8000 (which is resistance now)
- Wave v destroys all bull hope as we head to $6000, potentially down to $5000
confluences:
- this would get us a 78.6% retracement from the larger $3k - $14k move
- this also forms what would be a HUGE falling wedge
if this is right, we'll get some unbelievable opportunities to buy around $5k-$6k in the early 2020 timeframe.
this sets up perfectly to start moving up going into the halving in May, and then skies the limit for $BTC (easily back to $20k, more than likely closer to $50k - $100k).
NOT FINANCIAL ADVICE. this is most likely incorrect and not going to happen.
miners starting to capitulate... meaning we could easily see a drop to $6,000 pretty soon. last time miners capitulated, we very quickly dropped from $6k -> $3k.