BTC Likely at 2nd Wave's Peak Here. 14k Likely before $39k+ for COINBASE:BTCUSD by pooptart

trendanalysis chartpattern waveanalysis btc btcusd

If BTC follows the exponential three wave bull run it had in 2017, where it'd dip ~2/5 and subsequently run ~2/3 higher than it's last peak, BTC should be topping out around $23.3k (~2/3 above it's last peak of ~$14k - the first peak of this bull run) before a subsequent retracement to $14k (~2/5 drop from a $23.3k peak), and before finally running to ~$39k+ (>= ~2/3 higher than the second peak of ~23.3k).

Comment:

20x leverage short on perpetual BTC swaps with a stop loss at $24k (~1.5%) has a great Risk/Reward ratio; 1/31.5 (~30% downside vs ~945% upside) if the 2017 pattern repeats itself and a retracement to $14k occurs.

Comment:

Lower stop-loss to $23.6k entry point. Downside is now 0 with a 945% upside in the case this plays out.

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