BTCUSD Wave Pattern
If BTC follows the last few patterns we'll see it turn bullish over the next few days and go through another growth and correction cycle. I've marked the sections of the cycle with colored boxes to show the matching points of growth, peak, and correction. I expect it would peak at around $7200.
At this point we may enter a bear market because of how fast it's growing (exponential curve that isn't totally sustainable long term) and we'll see a large correction from $7000 back to $3600. From there I would predict it to move sideways for a while because this would break the cycles and create more fear and uncertainty in the market.
( I'm new to this. This is only my second shared idea. Everything is speculation, anything could happen. )
At this point we may enter a bear market because of how fast it's growing (exponential curve that isn't totally sustainable long term) and we'll see a large correction from $7000 back to $3600. From there I would predict it to move sideways for a while because this would break the cycles and create more fear and uncertainty in the market.
( I'm new to this. This is only my second shared idea. Everything is speculation, anything could happen. )
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.