BOTTOM OF ALL 3 BITCOIN BEAR MARKETS WITH ELLIOTT WAVES ANALYSIS
**Info about Correction wave pattern in Bitcoin Bear Markets:
-You can see all Bitcoin cycles are Triple Zigzag Correction WXYXZ when you do Elliott Waves Analysis.
-Reason why we call this triple zigzag is because we got 3 zigzag waves (W) (X) (Y) inside each wave ((W)) ((Y)) & ((Z)) and correction wave ((X)) in between them
-See more info about Triple Zigzag or WXYXZ correction wave pattern see here: screenshot.net/kpo29uw
-Last wave is wave ((Z)) and it got 3 subwaves which is (W), (X) & (Y)
-(W) & (Y) got 5 subwaves and (X) got 3 subwaves WXY.
-At the moment we are in wave Y (As of end of Feb 2019) going closer to the red long term down trend line.
**Finding the bottom of the Bitcoin Market:
Summary: Finding the Wave (Y) of ((Z)) Fibo of the 3rd Zigzag / 3rd Major Support S3 and where both of that meets with the long term uptrend line helps to find the bottom of the Bear Markets
Wave (Y) of ((Z)) Fibo:
-In EW Fibo minimum for (Y) is 0.618 of (W)
-See more about Zigzag fibo here: screenshot.net/8v58jbd
-In Bitcoin Bear Market 1, wave (Y) did 0.618 of (W) of the last wave ((Z)).
-In Bitcoin Bear Market 2, wave (Y) did 0.768 of (W) of the last wave ((Z)).
Major Support S3:
-In all 3 Cycles bitcoin goes to the 3rd major support to find the bottom.
Where it all meets together:
-In the current Bitcoin Bear Market 3 wave (Y) of (W) of the last wave ((Z)) can go to between 0.618 (1600) - 0.768 (880) of (W) or more
-3rd major support (S3) & the blue long term uptrend line meets when Wave (Y) of ((Z)) do 0.618 (1600) - 0.768 (880) of (W)
-This is the zone of the Bitcoin bottom of the previous 2 cycles and most likely this time as well. (Unless if it goes down further according the fibo)
-These cycles will repeat until bots trade this game.
See the individual charts below
Bitcoin Cycle 1:
Bitcoin Cycle 2:
Bitcoin Cycle 3:
RISK DISCLOSURE:
Please note that this is purely Educational purposes only and not as Individual Investment Advice. If you choose to follow the above techniques you do so at your own risk after giving thorough and reasonable thought and consideration to your actions and their potential consequences
-You can see all Bitcoin cycles are Triple Zigzag Correction WXYXZ when you do Elliott Waves Analysis.
-Reason why we call this triple zigzag is because we got 3 zigzag waves (W) (X) (Y) inside each wave ((W)) ((Y)) & ((Z)) and correction wave ((X)) in between them
-See more info about Triple Zigzag or WXYXZ correction wave pattern see here: screenshot.net/kpo29uw
-Last wave is wave ((Z)) and it got 3 subwaves which is (W), (X) & (Y)
-(W) & (Y) got 5 subwaves and (X) got 3 subwaves WXY.
-At the moment we are in wave Y (As of end of Feb 2019) going closer to the red long term down trend line.
**Finding the bottom of the Bitcoin Market:
Summary: Finding the Wave (Y) of ((Z)) Fibo of the 3rd Zigzag / 3rd Major Support S3 and where both of that meets with the long term uptrend line helps to find the bottom of the Bear Markets
Wave (Y) of ((Z)) Fibo:
-In EW Fibo minimum for (Y) is 0.618 of (W)
-See more about Zigzag fibo here: screenshot.net/8v58jbd
-In Bitcoin Bear Market 1, wave (Y) did 0.618 of (W) of the last wave ((Z)).
-In Bitcoin Bear Market 2, wave (Y) did 0.768 of (W) of the last wave ((Z)).
Major Support S3:
-In all 3 Cycles bitcoin goes to the 3rd major support to find the bottom.
Where it all meets together:
-In the current Bitcoin Bear Market 3 wave (Y) of (W) of the last wave ((Z)) can go to between 0.618 (1600) - 0.768 (880) of (W) or more
-3rd major support (S3) & the blue long term uptrend line meets when Wave (Y) of ((Z)) do 0.618 (1600) - 0.768 (880) of (W)
-This is the zone of the Bitcoin bottom of the previous 2 cycles and most likely this time as well. (Unless if it goes down further according the fibo)
-These cycles will repeat until bots trade this game.
See the individual charts below
Bitcoin Cycle 1:
Bitcoin Cycle 2:
Bitcoin Cycle 3:
RISK DISCLOSURE:
Please note that this is purely Educational purposes only and not as Individual Investment Advice. If you choose to follow the above techniques you do so at your own risk after giving thorough and reasonable thought and consideration to your actions and their potential consequences
Comment:
Looks like btc following 2011 Bear Market Fractal