First of all, we know that if Bit gets low prices, mining will no longer be profitable and many problems will arise, but we are technical, instead of trusting the words and opinions of elders and the media. We rely on charts and the chart now shows something like this.
Now that everyone is looking for a new peak in Bitcoin and thinks that they have experienced a heavy correction and now is the time for big climbs, it is better to share this view.
I think we are in wave C of a big falling triangle of the monthly time frame. This reversal is also for wave E from C of the big triangle. My expectation is that we will go down from the specified node of $31,800 to $47,000 to $1,200 to $760 within 100 weeks at the most for the big wave D of the triangle.
This analysis is long-term and takes months to prove. Do not be the only basis for your decision.
Now that everyone is looking for a new peak in Bitcoin and thinks that they have experienced a heavy correction and now is the time for big climbs, it is better to share this view.
I think we are in wave C of a big falling triangle of the monthly time frame. This reversal is also for wave E from C of the big triangle. My expectation is that we will go down from the specified node of $31,800 to $47,000 to $1,200 to $760 within 100 weeks at the most for the big wave D of the triangle.
This analysis is long-term and takes months to prove. Do not be the only basis for your decision.
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