This is my scenario 01, one of two that i have at the moment.
We ended a 5 wave downwards in August 14th, with the $5860 low, and started an ABC correction to the upside, witch i believe will end at around $7100 USD, when the price hits the resistence of the 30 days moving average.
At this point we might start another 5 wave down, ending at ~$5500 USD .
If this scenario plays out, this ABC up + 12345 down, creates the right shoulder of a Head & Shoulders, with the head measuring a stagering $2300 USD, witch could send us to the vecinity of $4000 USD, witch could very well be the bottom of the bear market.
We ended a 5 wave downwards in August 14th, with the $5860 low, and started an ABC correction to the upside, witch i believe will end at around $7100 USD, when the price hits the resistence of the 30 days moving average.
At this point we might start another 5 wave down, ending at ~$5500 USD .
If this scenario plays out, this ABC up + 12345 down, creates the right shoulder of a Head & Shoulders, with the head measuring a stagering $2300 USD, witch could send us to the vecinity of $4000 USD, witch could very well be the bottom of the bear market.