Another long term analysis, using historical data, fib channels, and Elliot waves. Again, not going so much for accuracy on price or timeline, but rather looking at how BTCUSD could potentially move in the next months / years.
I do think that we are in the midst of the B wave of an ABC correction, similar to April 2014. We could pump to 11k levels, before beginning a long C wave, extending through 2019. Beginning to mid of 2020 will turn bullish once again, reaching ATH in mid to late 2021.
I do think that we are in the midst of the B wave of an ABC correction, similar to April 2014. We could pump to 11k levels, before beginning a long C wave, extending through 2019. Beginning to mid of 2020 will turn bullish once again, reaching ATH in mid to late 2021.
Note
Timeframe was off by 6 months, but C wave is looking even more plausible now. 2019 saw some good gains, estimating correction will last through 2020, could be a rough year for crypto
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.