BitcoinLong
Bitcoin to 21000+ Agenda Theory, E. Waves, Logarithmic R.
Updated
Bitcoin has completed the Three Drivers to the Top pattern with 2.67 trend angle. The last wave can be considered as wave 3, but I see this formation more like AB leg of an extended flat correction.
Yes, the 3 drivers rally was actually a correction and real trend is yet to come.
Before the uptrend, which will probably have only little corrections like the wave 5 should be, C wave downwards to 1st support level expected.
Logarithmic Regression calculation hits a target around 21700.
Since this target should be seen as midline the uptrend mostly ends below (undervalued) or above (overvalued) this area.
wolframalpha.com/input/?i=e+^+(+0.00329800207260096++(+number+of+days+since+jul,+2009+/days+)+-0.102390514926083
My Agenda theory supports the current end of wave 3 with end of Metonic cycle (229 to 235 days) confirmation nearing after the mid-month rally.
I am expecting going sideways near the top for a while and a sharp correction in December.
Yes, the 3 drivers rally was actually a correction and real trend is yet to come.
Before the uptrend, which will probably have only little corrections like the wave 5 should be, C wave downwards to 1st support level expected.
Logarithmic Regression calculation hits a target around 21700.
Since this target should be seen as midline the uptrend mostly ends below (undervalued) or above (overvalued) this area.
wolframalpha.com/input/?i=e+^+(+0.00329800207260096++(+number+of+days+since+jul,+2009+/days+)+-0.102390514926083
My Agenda theory supports the current end of wave 3 with end of Metonic cycle (229 to 235 days) confirmation nearing after the mid-month rally.
I am expecting going sideways near the top for a while and a sharp correction in December.
Note
If you like the idea send me some coffe :-)1wEbisUZkybCV1yJrhUTsirU1hVVXcnyG
Note
Today we saw market weakness and test by the market-movers. On this 13H chart TD count is 13 consecutive bars while on weekly chart 9 bars. This means there should come a correction. First support will be around 10000 area.Note
Logarithmic bottom calculation. wolframalpha.com/input/?i=10^(2.66167155005961++*+ln((number+of+days+since+2009+Jan+09)/days)+-+17.9183761889864)
Trade closed manually
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.