My last idea (link below) did pretty well so I applied the same patterns and cycles to where we are now and looks like we can expect the next 30-40% pull back coming soon.
Most of the cycles have been +120-200% followed by 30-40% pullbacks. Looking at the Weekly chart also show we could be seeing the 2nd of a 3 wave pattern which will see a very deep drop in Bitcoin price, but no before we see another big ATH which could be the $12k number most people have always talked about.
This $12k number I think will get blown away though. Things have been so exponential with Bitcoin that I think the next big ATH before the big Weekly chart price drop could be hitting closer to the $18-20k levels.
Most of the cycles have been +120-200% followed by 30-40% pullbacks. Looking at the Weekly chart also show we could be seeing the 2nd of a 3 wave pattern which will see a very deep drop in Bitcoin price, but no before we see another big ATH which could be the $12k number most people have always talked about.
This $12k number I think will get blown away though. Things have been so exponential with Bitcoin that I think the next big ATH before the big Weekly chart price drop could be hitting closer to the $18-20k levels.
Comment:
Seeing as we have now flipped the SuperTrend and quickly dipped in to the BUY zone at $5500, reaching a higher high seems less likely before seeing a pull back down to the $4500 range first before moving the next ATH which we would see another set of 3 cyclic moves as shown in the chart below.
Comment:
Sorry... this chart shows the 3 previous moves up >
