The chart is very self-explanatory. I have divided it into different "ACTS", numbered I to V, with a FINAL ACT indicating the last high before the next correction.
Currently, Bitcoin is primed for a correction. The similarities with the ACT I out of the 2015 bear market are uncanny. As you can see, ACT I ended at a value that corresponded to a 65% of the previous ATH. I expect this move to not go much higher than $13k, which also corresponds to roughly 65% of the current All Time High (between $19.6k - $20k, depending on the exchange you're looking at).
As you can see, a correction between 30%-40% followed with each ACT. These corrections followed when RSI was at 80 or higher on the weekly time frame. The current weekly RSI (as of July 9, 2019) sits at 82. I expect a correction between 30-35%; I don't expect it to drop below $7.6k.
I expect an alt rally, in particular in Litecoin, to follow after this correction, which means the major alts will soon experience a serious ratio surge/pump.
I expect bitcoin to reach between $250k - $320k by 2022. It is possible we will see a new ATH this year.
I will be updating this idea regularly.
Currently, Bitcoin is primed for a correction. The similarities with the ACT I out of the 2015 bear market are uncanny. As you can see, ACT I ended at a value that corresponded to a 65% of the previous ATH. I expect this move to not go much higher than $13k, which also corresponds to roughly 65% of the current All Time High (between $19.6k - $20k, depending on the exchange you're looking at).
As you can see, a correction between 30%-40% followed with each ACT. These corrections followed when RSI was at 80 or higher on the weekly time frame. The current weekly RSI (as of July 9, 2019) sits at 82. I expect a correction between 30-35%; I don't expect it to drop below $7.6k.
I expect an alt rally, in particular in Litecoin, to follow after this correction, which means the major alts will soon experience a serious ratio surge/pump.
I expect bitcoin to reach between $250k - $320k by 2022. It is possible we will see a new ATH this year.
I will be updating this idea regularly.
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I expect the 30-40% correction in Bitcoin USD value to happen within the next week or two.
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DEATH CROSS occurred as predicted! You have been done got warned!
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Slight delay, but bottom is as good as in. BTC will now sideways while alts will began to rally until November.
