In addition, the corrections seem to be complete. I count five waves (blue) in wave C and even five subwaves (light blue; see chart below) in the fifth subwave (black) of the extended fifth wave (blue).
The fifth subwave (black) is almost exactly a 1 to 1 Extension of subwave 1 (black). That is very common fifth wave ratio and could signal the end. If I break it down even further, we see five sub-sub-sub-waves! The fifth wave is an expanding . What rare pattern to seal the end!
Sometimes we need to look at the big picture. We should not panic and look at the price every 5 mins if we're not day trading. We have not completed the fifth cycle wave, and I don't think we are even close to the very top.
The question is am I right? The answer is probably not. What I'm doing here is called "catching a falling knife". No one can predict the exact bottom, and I could be far from correct. There are still signs. For instance, Bitcoin just broke a key , which happens to be the bottom line of a . That is an extremely bad sign. Usually, you want to buy on confirmation of a breakout. That would mean Bitcoin needs break 10k.
However, for the risky and daring traders like me, this presents an interesting setup where we try to buy to bottom and make massive profits (if we're right). According to my analysis, $6230 should be around the bottom (This is just an complete guess for giggles and the memes).
Time: Less than 6 months
Entry: Buy when Bitcoin breaks $10,000 with .
Time: Less that 6 months.