If we zoom-in we are on Wave (v) of Wave (( iii )) of Wave A of Wave (E). Wave (E) also could be the last Intermediate Wave of this Bitcoin Market cycle before we start a new cycle in 2018.
Here are my projections for the Wave (E) which is most likely the End of the currect Bitcoin Market Cycle:
1. Wave (E) Projections using Fibonacci 0.786 of Wave (D) is ~7.2K.
2. Also When Wave A of Wave (D) = Wave A of Wave (E) & Wave C of Wave (D) = Wave B of Wave (E) then Wave E Completes ~ 7.2K.
3. We also got lots of support within the range of 6.8 - 7.2k
After Wave A is completed we can get another confirmation here where is the price is heading.
So the turning point of a New Bitcoin Market Cycle will falls around this range 6.8 - 7.2k.
What we still don't know is where the market going to be heading after this. If the outcome of Consensus is positive then we will see new high highs i believe.
We also have a possibility that Bitcoin continue the downtrend breaking the yearly support or the uptrend line the we need to recount the waves to find out the wave targets as this could be the continuation of the correction which will be a Combination Correction.I hope we will not go that far.Good luck with your trading :-)
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
Then we are going down again on Wave ((v)) which completes Wave A. Then its time for a big correction from Wave A to Wave B which is around 1k+ (0.5 - 0.628+ of Wave A).
Then it's going to the last Wave C of Wave (E). Wave C usually longer than Wave A which is going to be around 1.272 of Wave A. This may ends the Bitcoin Market Cycle at around 6.8 - 7.2k.
What happens next may depends after the results / recap of the Consensus even though many of us are super exited going to the moon, big investors will always wait for confirmation / results of the consensus i guess. I may be wrong but the time will tell soon.
Wave ((iv)) = Wave (c) = 1.618 of Wave (a)
I have done the / wave (c) / wave v projection all seems to be completing ~8.8+
According to this Wave (v) / Wave ((v)) / Wave A will be completed in 2-3 days as we are still in Wave (i). Also please note that Wave iv is usually 0.5 - 0.618 but we had only 0.236 in Wave ((iii))