Just looking at the BTC macro market cycle.
We can see that the current cycle... as predicted if you've been in discord or following on youtube... I've been saying this for almost 2 years now.
The current market cycle is following the last one almost exactly... now this can change at any moment and just because the followed the last cycle up until this point...
This is an over lay from the reaccumulation range we saw in the 2016 run up at the same 2.272 fib extension.
if we did the same move now...
It would push to 46k form here.
Bull trap everyone calling for 50k +
Then pull back to 29k sweep the lows here then send again
Based on this Market cycle map I am predicting that the bull run could last until May 2022.
It would make sense for the top to tag around 100k, but we definitely can ago alot higher.
I would think a 10x from the last high of 20k would make the most sense but an over shoot and push to around 240k to suck over confident bulls in before a new bear market starts...
Green Arrows are Long entrys, Red is for Shorts.
Not saying this is 100% going to play out, but just a trading plan of what might happen and some good levels to be getting into longs and shorts over the next few months if we stay with in this range.
And break of the range high or range low I will expect continuation in that direction, watch for the weekly time...
Once the US and UK / AUS go into lock down after afew weeks the corona numbers will start to dwindle, I think this will give us one of the greatest buying opportunities of our lifetimes.
Halving still in May, if the dust can settle before then BTC could make a move.
Looking for this wyckoff to continue playing out here on BTC
looking now for a sweep of the lows followed by a reclaim of the range, that will be my area to get into a strong long position.
if we break the lows and breaish retest that will be the signal to exit and load up shorts atleast x1 total portfolio to lock in USD profit.
Looking for buys around 5.8 and 5k if the 1st level fails.
Expecting an accumulation range for 2-3 months then a break out into an up trend after miners stop dumping excess storage when we move into the halving.
Post halving resume up trend and push for new ATHs by end of 2020 and 2021/22 tops out in a parabolic blow off top.
BTC has to continue momentum to the upside here or the higher time frame move will break down.
A solid bounce off the weekly order block at 9500-9600
We just put in a higher low, now we need to break the descending market structure and break to the upside closing a higher high above 10800 on atleast the 4hr time frame.
This will flip my bias to bullish....
Catching this one early for the completion of the Elliot Wave sequence we have been in since 7.8k
The rest of this falling wedge should take us to 9.3k which is the first daily support and the completion of the C wave.
Looking for a bounce there and a possible wick down to 8.5k to take out the CME gap close.
WTC has found support but needs to pull back on the daily. It could run from here or it could pull back first and then go on a new daily momentum swing, making a small entry here and will add if it takes off.
If not I will wait to enter the rest of the position and average down with the daily momentum dump on Sto RSI.