This is an edit to a previous idea with the following changes:
- Corrected WXY and triangle from 2018 correction.
- Made forecast lines more visible.
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Note
This is my forecast from 11 March:
Chart from 23 April showing BTC possibly in 2016 fractal:
Simply a fun 3D-ish (4D!) chart from 9 April that many people seem to enjoy:
Note
Realized that older price data is not loading in the main chart. So aggravating. Here is the original idea showing the older price data. Remember that the 2018 WXY correction depicted in linked original idea is more invalid than the one in above main chart. There are various potentially valid ways to draw the WXY correction. I suggest focusing on the concept’s implication and not the details. The implication is how such a 2018 WXY correction would affect a future price trend. Based on my 2018 WXY cocrrection and forecast, price will continuously pump based on repeatedly completing of structures associated with price pumps, e.g., cup and handle and inverse head and shoulders. A CNH will complete where I depict the forecasted X, which subsequently (and likely arguably) completes an IHS that will further pump price.
Note
FYI, I was inspired to chart this after noticing the similarities between BTC and the SPX from 1971 - 2001, which led me to think BTC will then follow 2001 - 2009 SPX pattern.Note
Looks like W was reached. The retracement for X should be between 5435 and 4960.Note
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Related publications
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.