The idea is as follows.
Bitcoin is going to 100k+.
P1: July 25th is the low for wave 4 of the cycle from the greater degree.
The movement from the 25th to the 6th of September I am labeling as a wave 1. The price action following that has worked out into a really clean a-b-c to the downside.
P2: At the moment I am writing this, we have broken out of the corrective channel. This means one of two things. We are starting the wave 3, or we are in wave x, which would imply a descent further down.
In the event that it is a wave X, we will see a cross below the 39500 level, and if this is the case, it will take a couple of weeks to reveal that.
P3:A mentor of mine once told me that the first couple trading days set the high or the low of the month, and I have found this true more often than not. In relation to bitcoin, this tells me that these next couple of days are going to be incredibly important. I won't be suprised if we see a drop down these next couple of days, maybe a retest of the corrective channel, before a launch to higher highs.
P4:A break above the September high of 53K will be a huge bullish indicator. If this happens, I am anticipating atleast 76 K for the wave 3, maybe even 80K or 90K.
A pass of 53k will also confirm my wavecount that we are in a wave 5, meaning the final target could very well be 100k or higher. I highly doubt we will see this in October, but instead, sometime in December, since this is typical for bitcoin.
There is also a probability that we could hit 150-160k By the end of the wave 5. However, I don't want I get too far ahead.
I am excited to see what will come of bitcoin in these next couple of months.
Bitcoin is going to 100k+.
P1: July 25th is the low for wave 4 of the cycle from the greater degree.
The movement from the 25th to the 6th of September I am labeling as a wave 1. The price action following that has worked out into a really clean a-b-c to the downside.
P2: At the moment I am writing this, we have broken out of the corrective channel. This means one of two things. We are starting the wave 3, or we are in wave x, which would imply a descent further down.
In the event that it is a wave X, we will see a cross below the 39500 level, and if this is the case, it will take a couple of weeks to reveal that.
P3:A mentor of mine once told me that the first couple trading days set the high or the low of the month, and I have found this true more often than not. In relation to bitcoin, this tells me that these next couple of days are going to be incredibly important. I won't be suprised if we see a drop down these next couple of days, maybe a retest of the corrective channel, before a launch to higher highs.
P4:A break above the September high of 53K will be a huge bullish indicator. If this happens, I am anticipating atleast 76 K for the wave 3, maybe even 80K or 90K.
A pass of 53k will also confirm my wavecount that we are in a wave 5, meaning the final target could very well be 100k or higher. I highly doubt we will see this in October, but instead, sometime in December, since this is typical for bitcoin.
There is also a probability that we could hit 150-160k By the end of the wave 5. However, I don't want I get too far ahead.
I am excited to see what will come of bitcoin in these next couple of months.
