BTC Bottom - Target - Based on Elliot Wave Analysis

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
This graph is my personal forecast of the bottom of BTC .

=> I think we are not yet done correcting.

Based on my analysis, we are finalising the C~wave of the typical ( Elliot Wave ) ABC correction-pattern. The C~wave has a 5~wave sub-structure. As you can see from the chart, I am of the opinion that we entered the 5th (and last) wave of the sub-structure.

Based on the recent trading channels and the long(er) term resistance/support levels, I estimate the bottom around USD 4,500. However, there is a very bearish scenario, too, where I see the price bottoming at approx. USD 2,900.

Let me know what you think!
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