There are 4 patterns/indicators that suggest that BTC could drop further to between 28k -> 27k.
1. Head and shoulders.
- It is common for the drop following a head and shoulders to be roughly the same as the rise from the neckline to the top of the head. This was 39%. If we take 49% down from the neckline, this results in a price of 28.5k
2. Previous support
This analysis shows that we are currently in wave 3 of 5 of the Macro wave 3 (of Hyperwave 3).
The Macro wave 3 should take us to about $2.16, as this lines up with the both the fib extension at the 2.0 fibonacci and the previous wave's extension at 8.236. However, this it may only reach as far as $1.91 or $2.56.
If $2.16 is reached as wave 5 of 3, we can...
A entire macro view of the Entire bull market - provided there is only 1 alt season and no utility season - calculated using Elliot wave and Fibonacci ratios.
So far we have seen XRP rally up to 72c and then crash back down to 17c, marking Hyperwave 1 and 2. I believe we are currently in wave 3 of Hyperwave 3. The peak of this wave should end at around $4.20. A...