We had double touch top of wedge at the confluence point on MFI and holding monthly support atm at 9035 which could leave 14900-17100 range wide open. We also re-gained the previous support trendline before the drop to 3k. Possible wick to 8500/8600 area if we cannot break above 4H upper trendline and get forced out of monthly but this would be the spring to push...
One year from now and all coins will get back to 2017 prices, BTC will worth $800 probably.
I will try to keep this updated and count the waves but you get the point here...stay safe till end of next year .
I have an impeccable wave-count down to minute resolution on the October rally which gives me high confidence that this is a W1 with a W2 in progress. This structure is tradeable regardless of whether it is the start of a larger rally or the beginning of an ABC as I can confidently infer a W3 to follow. I intend to trade this once I see a qualifying retracement...
This chart represents my highest precision wave-count for the current correction.
Red bars represent corrective sub-waves and Green motive sub-waves.
I have X: 3-3-5 (Flat), Y: 5-3-5 (Zig-Zag), Z 5-3-5 (Zig-Zag).
Price is currently in wave 4 of C of Y.
Now approaching the end of the triangle, we should be breaking down within the next few days. Triangle target sitting at around $5500 and the 0.618 fib target is sitting at around $7500. I personally believe we will bottom closer to the $7000 around the 0.618. A lot of people are going to be waiting to buy this dip
Head and Shoulders played out , What followed was a retest on of the level of the last peak of the descending wedge we broke out from yesterday ,
While doing that price did consolidate inside a descending broadening wedge which is bullish, Broke out to the upside , retested back on the top side of it and now we are set for another run to the upside,classic text...