If the markets do run in 4 year cycles then this is what we can expect.
Chart explained:
* From the end of may 2014 until November 2015 we have seen a ABC correction (bearmarket), for the current bearmarket this ABC correction started in January 2018 until the end of September. In my opinion the bottom of the total market cap ex. BTC is already in. ( Bottoms are marked with the green dotted line )
* If we can trust the chart, we will see a beautiful increase in marketcap the coming 7 months when the next Bitcoin halving ( yellow dotted line ) will be a fact, here we will see the first part of the Elliot wave completed ( if history repeats itself )
* Buy the news sell the rumor, expect a temporary pullback / consolidation phase when the halving passes, with this pullback we will complete the second part of the Elliot wave.
* Bags will be filled and the market will once more see a run up, with this run we will complete the third part of the Elliot wave.
* As expected, after every run a correction need to happen, this correction will be short lived. This will be the fourth part of the Elliot wave.
* Prices will shoot up rather quickly and FOMO kicks in, lets enjoy the ride on wave 5
RSI explained:
I have used a 12345 structure to point out the historical RSI VS the current RSI setup, does it looks similar to you ?
This is no advice and I know there are a lot of similar posts, this chart is a possible setup based on long term trend and historical data combined with dates and some technical indicators.
looks good but your 3rd wave is your shortest so I think your wave count is incorrect.
Dmoootje
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@MACKJ6, yes is saw that but is a historical projection. The waves are a copy of the waves in 2015.
MACKJ6
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@Dmoootje, yes the pattern appears to be repeating itself I just think the count is in the wrong place. Also the c wave is usually lower than the a wave as well. so your abc correction count is where everything was thrown off. best of luck. keep practicing EWT my friend.