This is a near textbook zig-zag ABC corrective pattern.
The dotted line is the A wave stuck onto the terminal point of Wave B.
We are also basically exactly where I predicted the supercycle EW Wave 5 would begin.
I don't think BTC will see too much resistance at these retracement levels below the previous Wave 5 (intermediate timeframe).
This market continues to disprove any "bubble" bigots as I like to call them - health correction followed by huge growth, rinse and repeat. It's what we're seeing over and over again.
Fractals at every level.
Wave 5 of the supercycle will be the "public adoption phase" so expect monstrous growth in the year to come.
The bottom is here - BTCUSD pierced the "double wall" made by the 1.272 extension of Wave A, and the 0.5 retracement of the supercycle Wave 3, making its way towards the lower half of the downwards channel - it quickly threw this off, and rebounded to where we are now.
We may see a little more sideways movement, especially with the weekend coming up, but once Wave 1 EW cycle begins (of Wave 5 supercycle), we'll know it!
The dotted line is the A wave stuck onto the terminal point of Wave B.
We are also basically exactly where I predicted the supercycle EW Wave 5 would begin.
I don't think BTC will see too much resistance at these retracement levels below the previous Wave 5 (intermediate timeframe).
This market continues to disprove any "bubble" bigots as I like to call them - health correction followed by huge growth, rinse and repeat. It's what we're seeing over and over again.
Fractals at every level.
Wave 5 of the supercycle will be the "public adoption phase" so expect monstrous growth in the year to come.
The bottom is here - BTCUSD pierced the "double wall" made by the 1.272 extension of Wave A, and the 0.5 retracement of the supercycle Wave 3, making its way towards the lower half of the downwards channel - it quickly threw this off, and rebounded to where we are now.
We may see a little more sideways movement, especially with the weekend coming up, but once Wave 1 EW cycle begins (of Wave 5 supercycle), we'll know it!