It’s simple. All you need to see to see is this single trend line from the beginning of the bull run. It’s not coincidence we found support EXACTLY at this level. If this line breaks, sell it. Sell it all. $200k by EoY. Mark it.
Wave 2 is a 0.786 retracement of wave 1. Wave 3 is a 2.618 extension of wave 1. Wave 4 is a 0.382 retracement of wave 3. Wave 5 is a 1.00 extension of wave 1+3. (slight overshoot) Wave A appears complete as it is composed of a clear 12345 structure. If B retraces 50% as noted, wave C will will have a 1 to 1 with A at the 0.618 retracement of the entire move.
Looks like it will back to around 25k level. Also note there is a CME gap just below 25k.
Congrats, it’s your lucky day. You clicked on some post from some guy and now your reward will be complete clarity as to what’s going happen. All you need to do is read the words that I wrote. Leave a like and drop comments. I’d be glad to debunk any comments that disagree with my position. Everyone is getting bullish on bitcoin for breaking the downward trend...
My previous post was an ETH wave count (you will want to check that out) where I suggested we just finished wave (iii), which is where where wave (v) is in the DASH count as shown. Therein lies the rub. I do not think the underlying count on these assets is different. While you could count DASH as I did for ETH, you can't count ETH as I have done so for DASH....
I keep seeing charts with wave 3 being improperly identified. Wave 3 can't be the shortest wave. I see us currently in the lower degree wave 4 with wave 5 completing around $300. $300 has historically acted as firm resistance. Bouncing at 300 will form the ABC correction. FOMOers will buy at the top of this wave and get wiped. Don't fall for it. Wait for the...
This count suggests a final wave 5 impulse to 10k levels to complete the larger degree wave 3.