DarkPenciI

BTC EW Macro Count

Long
BITSTAMP:BTCUSD   Bitcoin
A lot of people have turned very bearish since the correction is lasting much longer than people thought, along with a weird correction pattern that isn't very common in a wave 2 I'm turning to a longer term triangle pattern in the making. in terms of a EW from the inception of BTC we seem to be in a wave 4 and triangles are very common and an ascending triangle gives us the low is in at 3k and a multi year side way correction. With the halving coming soon around May, I believe another multi month bull cycle seems to make the most sense taking us to our last ATH around 20k. I believe there will be a relief rally for Alts shortly with another capitulation and another bigger relief rally before really capitulating and finding a new low before the true Alt season starts later half of next year.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.