BTC new A-B-C with possible Fibonacci retracement targets...
The BTC Drop Weds 25 Sept 2019 at 9 AM to an interim low of 8159.35 is...
Below the 9 Week MA of 9818 and 20 Week MA of 9289 targeting the 50 Week MA of 7875 with a potential test of the 200 Week MA at 4,557 if 50 Week does not hold. Therefore Confirming top of the 5 Wave depicted from 10 Dec 18 to 24 June 19 moving into a larger A-B-C wave now developing as follows... (Note 5 Wave and A tops are the exact same point just offset the A for Chart legibility)
A Low 10 Dec 2018 = 3128.89
A high 24 June 2019 13,868.44 A length 10,739.55 Note A high is also top of subordinate 5 wave which was in fact a large red rejection candle with a very long wick upwards indicating thin trading and a possible Pump and Dump by the 10 largest BTC holders.
Possible/Probable Fibonacci retracement targets from A/5 high of 13,868.44:
10,739.55 X .38 = 13,868.44 - 4081.03 Target of 9787.44 (Exceeded so next)
10,739.55 X .50 = 13,868.44 - 5369.77 Target of 8498.67 (Exceeded so next)
10,739.55 X .618 = 13,868.44 - 6637.04 Target of 7231.44 Ultimate .618 Correction B low target.
Assuming a high probability of a .618 retrace A high to B wave low (13,868 - 6637 = 7231.44 B low) also the 50 Week MA Target as it corrects along with the 9, and 20 Week MAs.
The length of A wave 10,739.55 plus B 7231.44 low to new C High Target of 17,971 with a B bottom projected in Nov/Dec 2019 and C high near the next BTC halving date of 24 May 2020.
Interesting how Fibonacci sequences work even in the cryptos asset class.