GREEN: Best Case Scenario
YELLOW: Most Likely Scenario
RED: Worst Case Scenario (Matching the 2014 bear market)
1,2,3: The 3 major waves before breaking the downward trendline
GREEN BOX: "Bull Trap" Happens after the first large Consolidation
PINK BOX: Comes after the green box and is the true "Bull Break"
RED BOX: A plateau period where buyers get assurance the bears are really gone.
* Colors match previous structure of similar pattern
Bitcoin could find this support and then create a consolidation till it breaks out. Drawing this curve was difficult as there wasn't enough space at it's current trajectory.
Easiest to draw curve at current trajectory. Would be in line with pattern on historical bear markets.
Even though this would match the 2014 bear market, I just can't imagine the market falling this far with the current status of Crypto.
*Chart is BTCUSD , 1 Day,
Hoping the $775 scenario doesn't come to fruition, but in this market cycle I'm feeling people are too bullish at these levels for this bear market to be over.