Keep Hope Alive: BTC Bears Look for a Major Return to Sub $10K

19 févr. 2021

Bitcoin may be in the process of completing the biggest, most extended Wave 3 in the history of all assets, literally jumping from $3K to $50K+ in one, single, pump! Quite unimaginable actually but it sort of makes sense if you think about it (of course its easy to say this in hindsight, lol). The 4/3 was a massively tricky one to catch, which I surely failed to do.

Now that Wave 5/3 has come earlier than anticipated, the count shows that we're likely in Wave 4/5 of 3. I'm expecting that we will retrace back to the $50K range and pump to nearly $60K or more, but not much more.

Typically at the end of a 5/4 Wave, price retraces to the previous Wave 4 level to find more support. The previous Wave 4 level for Bitcoin lies around $4000. RSI levels are still extremely hot for Daily, Weekly, and Monthly charts. This kinda drop is also nearly unimaginable and foresight isn't quite as convenient as hindsight :)

19 févr. 2021

Note

Typically at the end of a 5/3** Wave, price retraces to the previous Wave 4 level to find more support.

23 févr. 2021

Ordre annulé

I had to re-check the analysis count. Sub $30K (and likely $40K) is dead. $62K and 41K are my next tentative targets. Bear Season will never be the same. $40K-$45K will be the last low point before BTC reaches disrespectfully, enormous price ranges.