This would rhyme. Furthermore, trendlines like the red one often work better on a non-log chart with cryptos.
the decline in volatility mirrors a wave 4 (as a triangle with fractal e's) and hints to an explosive move to the upside to follow.
If the price falls below say about the blue line, the uptrend is violated and there might be a more sustained dip down. The two fails (Blue arrows) before might be seen as alarm signs for weakness. If on the other hand this dangerous situation is overcome and the wave count is right, there will follow a more pronounced upmove as a wave 5. Wave 3 was 1.62 x wave 1....
the parabolic curve is to be seen clearer on a lower time frame
After testing the middle line from below and above probably be a more sustained upmove will follow to 100.000 USD. Two adjacent dips like the two designated with horizontal arrows often precede a stronger move.
Maybe the third wave we are in may show a little overshooting above the upper trendline border. Therefore 320.000 USD may be a bit to low as a target. RSI hasn't reached its former highs yet. For EW analysis see my former charts. At present we are meddling with the middle trendline which we will soon leave in a upward direction.
Leaving the old channel after retest of its upper channel border.
My last btc analysis received zero comments and likes, which is funny and also illuminating since it predicted the price action during january quite accurate. Here is my next guess. Sorry for posting so few analyses here but it's not really worth it.
an intense blow to the north might be expected to around 2.6 x the corrective downmove from 2018
The 4,3 x extension for wave 1 (with blue borders) is 46.250. Afterwards a wave 4 may be expected to the target area (red rectangle, area of subwave 4 of one minor degree).
see chart. The triangle as subwave 4 will cause a lot of pain especially for those who get thrown out of their positions an watch the advance to around 260.000 USD from the sideline.
The price faces a strong resistance (upper trend channel line, ATH, measured move, oversold RSI). If it goes beyond it, a very strong upmove would result. This is the most likely scenario, given the Elliott wave count (3 of 3 of 3).
Maximum target 3130. Afterwards a rapid wave 3 down to around 1500. Nice internal Fibonacci relations. If the price goes beyond 3136, then this count is wrong and the waves consist of fractal 1-2 subwaves of different hierarchical orders. Anyway 3100 is a nice entry to short with limited risk and a stop at 3140.