Bitcoin and other deflationary crypto-assets follow distinct fractal patterns in their price movements. Bitcoin , most of all, strictly follows a fibonacci pattern during its bubbles. To the right we have the 2013 bubble and the previous minibubble as basis for our fib-extension. Here we see that bitcoin always has concluded its bubble cycles at the 5.236 extension of A (the initial bear trap in a bubble).
The impulse from ~250 to 3000 was different than the 2013 bubble. Wave {1} was complex with extended consolidation between moves. This pattern has held throughout the year, with A being a Blow-off top which retraces to previous local high and B being a complex top with divergence.
The fact that bitcoin held at 1800 implies that a new bottom has been set, and that the fractal cycle starts over. Bitcoin will according to this pattern do ABC to around 3000 (A 3250 B 3464 C ~3000). Following that, an impulse to point B (complex top) Which should be around the 1.618 ~5000$ If these fibonaccis are correct this cycle will conclude at the 5.786 extension with bitcoin reaching 13000$.
Considering a recession on par or worse than 1929 is right around the corner, i consider this more likely than not. Thanks for viewing. If you have any questions or feedback they are much appreciated. Happy trading towards 13000$ BTC
Update for Bitcoin concerning correction target, wave structure and possible extensions.
Bitcoin is repeating the first A pattern, the basis of which is 1850, top 4399. In the minor TF, i see (abc) correction to ~3200 and then a pennant which breaks down to the bottom of 2956 (previous ATH breakout level)