BITCOIN, May fall terribly ! This is a real warning !
BTC is more than likely completed an impulsive section of wave cycle and currently is in a major correction to complete a wave cycle.
What I see know as most probable scenario has been shown on the chart. The key to the prediction is what I labeled as circled wave 2. Some may argue this is a wave 2 but a smaller degree wave 2 which means another large up going wave is still on the way to complete the impulsive section of the wave cycle. They may be true (I myself, was seeing this part of the chart like this before) however , I see now this correction as a double failure flat correction which in this case BTC may fall to 26357 or even 14765 corresponding 0.618 and 0.786 Retracement of whole up going wave from start of transactions to ATH. (Note in both scenarios a decline to 26357 is possible and predicted).
What is a double failure flat correction is beyond the scope of this analysis but, Keep it in mind this is a real possibility which implies for a dramatic fall.
Needless to say, If this scenario happens there will be a shining chance to invest on BTC after end of correction ( next large degree wave 3 is shown on the chart).
Hope this to be useful. Please set your stop loss carefully if you decide to open a long position in this market.
Good Luck.
What I see know as most probable scenario has been shown on the chart. The key to the prediction is what I labeled as circled wave 2. Some may argue this is a wave 2 but a smaller degree wave 2 which means another large up going wave is still on the way to complete the impulsive section of the wave cycle. They may be true (I myself, was seeing this part of the chart like this before) however , I see now this correction as a double failure flat correction which in this case BTC may fall to 26357 or even 14765 corresponding 0.618 and 0.786 Retracement of whole up going wave from start of transactions to ATH. (Note in both scenarios a decline to 26357 is possible and predicted).
What is a double failure flat correction is beyond the scope of this analysis but, Keep it in mind this is a real possibility which implies for a dramatic fall.
Needless to say, If this scenario happens there will be a shining chance to invest on BTC after end of correction ( next large degree wave 3 is shown on the chart).
Hope this to be useful. Please set your stop loss carefully if you decide to open a long position in this market.
Good Luck.
Comment:
BTC bulls are bleeding. Who took our real warning seriously ???
