learn about it. it's not a sure thing, but it is significant.
Doesn't mean the cycle is over for sure, but I'm expecting a major correction. If it does turn that way, these are the levels i'm looking at. 44000, 40000, 31000
We are coming to the close of a cycle with bitcoin. Not clear yet if it's signaling a more prolonged downturn, or still has a little steam left, but we will have a better idea soon.
In the images below you can see in light grey a larger 5 count wave. Just a rough sketch, not a proper count. ...
Year old trend line which has held 3 times and seemingly it's 4th at the current moment. Last 3 pumps have been quite steep, a quick 2x. If history repeats itself it may at any moment over the next few weeks. Looking at strong trendline, and patterns in the moving averages it seems very likely. Looking at the geometry would be the caveat, a pump here would...
Testing this important area. I'm guessing we will hang out here for another month or so before heading towards the next ceiling, but my guess is if we are heading that way there won't be much pause at the ATH level.
This chart is mostly for curiosity of how it will play out.
This is my first serious attempt with Elliot wave and using pitchforks.
To me it looks like REN is finishing this move with it's 5th wave.
Target is at the top of the blue channel where the 5th is placed.