Bitcoin is clearly in a zigzag formation. It's got five legs down from the April peak and is now in the midst of its B-wave.
If we zoom in on that B-wave, however, we can notice that we're within the B-wave within that B-wave.
And ... yes, you got it! ... within that B-wave of the B-wave, Bitcoin has just initiated its C-wave.
Upon completing this, which should occur between $34,500 and $36,000 for a 0,5 or 0,618 fib match (both of which also coincide with horizontal supports) should initiate the C-wave of the major B-wave. This move in turn should take us somewhere between $45,000-50,000 before plunging Bitcoin into a seemingly abyss. This move, likely down towards the $20,000-24,000 area (all depending on where the big B-wave finishes) will take most investors by surprise and will be an event that causes despair and for people to give up. THAT'S when Bitcoin will have completed its long and tedious and, to many people painful, correction and will then be ready for new all-time highs.
Make sure you're prepared for this as it will scare the living daylight out of the vast majority of investors and traders alike.
If we zoom in on that B-wave, however, we can notice that we're within the B-wave within that B-wave.
And ... yes, you got it! ... within that B-wave of the B-wave, Bitcoin has just initiated its C-wave.
Upon completing this, which should occur between $34,500 and $36,000 for a 0,5 or 0,618 fib match (both of which also coincide with horizontal supports) should initiate the C-wave of the major B-wave. This move in turn should take us somewhere between $45,000-50,000 before plunging Bitcoin into a seemingly abyss. This move, likely down towards the $20,000-24,000 area (all depending on where the big B-wave finishes) will take most investors by surprise and will be an event that causes despair and for people to give up. THAT'S when Bitcoin will have completed its long and tedious and, to many people painful, correction and will then be ready for new all-time highs.
Make sure you're prepared for this as it will scare the living daylight out of the vast majority of investors and traders alike.