BTC 5k Bottom by September, Three-Pattern says!!!

Updated

Here I'm back with another interesting chart......

A bullish Three-Drive Pattern!

But....

Before getting bullish, needs to see the bottom.

Where is the bottom?

According to this carefully drawn pattern must touch 5k in first week on September.

And

5k would be the bottom everyone is looking for...

and from there we'd see a long term bullish reversal.

Wait and watch!

Enjoy this chart!!!

If you like it, please like and share on twitter.

My twitter id is techish

Thanks!!!

Note

3-Drive Pattern - Explanation:

- 3-Drive Pattern is about 3-drives to a bottom.
- Drives 2 and 3 should be 127.2% or 161.8% extensions of the A and C retracements
- The A and B retracements will typically be 61.8% or 78.6% of the previous drive.
- Time of A and B retracements should be symmetrical. Same goes for extensions (2nd & 3rd drives to top)

I have added some statistics to show how you calculate targets of next peak or bottom and remember 3rd drive is bottom.

In short Fib retracement is used to calculate targets of drop or rise if a 3 drive pattern is forming

techish

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