Butterfly effect has occurred. The higher trend has not occurred as a result of FED intervention. Thus, the weekly and monthly charts indicate that we are still in wave 4 of the correction that began in April 2021 and will continue the final correction wave, wave C, until the end of December 2021.
Wave 1 started at rate: 3122.28 and ended at 13880.
Wave 2 started at 13880 and ended at 3850.
Wave 3 started at 3850 and ended at 58354
Wave 4 (A) started from 58354 and finished at 28600
Wave 4 (B) started from 28600 and ended at 67803
Wave (C) started from 67803 and will be ended ~ 30500
Wave 5 will be started ~ 30500 and will be ended ~430000
If the decline continues at a lower slope beyond December 2021, the decline will take longer than indicated in the figure.
My previous prediction for BTC was incorrect, and I have revised the post with the new analysis.
Wave 1 started at rate: 3122.28 and ended at 13880.
Wave 2 started at 13880 and ended at 3850.
Wave 3 started at 3850 and ended at 58354
Wave 4 (A) started from 58354 and finished at 28600
Wave 4 (B) started from 28600 and ended at 67803
Wave (C) started from 67803 and will be ended ~ 30500
Wave 5 will be started ~ 30500 and will be ended ~430000
If the decline continues at a lower slope beyond December 2021, the decline will take longer than indicated in the figure.
My previous prediction for BTC was incorrect, and I have revised the post with the new analysis.
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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.