Updated

Bitcoins bubble about to burst?

Its possible bitcoin has finished 5 waves up on the macroscale. If it has we have entered a long and devastating bearmarket that Will last years. Watch out for break out of the wedge to the downside. If we dip below 20 k it could get ugly. We will have to see how the waves develop.
Im not sure if the red wave 4 in the blue wave 5 is still ongoing( I doubt it). If it is we Can expect one more high.
For now we watch if the move Down from top unfolds in 5 waves and how deep it goes.

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Are we in a 5 wave structure to the downside?

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The path of the red 3 to 17 k.

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5 waves from 32 k down looks finished.

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5 waves down from alth not confirmed yet. At the moment we could just have had a double zigzag. We could have a triple correction or it may develop to 5 waves. We will see.

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Looks like 5 waves up from the lows so far

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Looks like a bullish move building up

WaveNerd

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WaveNerd