BTC/USD Correction/Bear Scenario
This is how i feel about Bitcoin:
We are currently in an ABC correction of the previous 5 wave structure.
We have confirmed the bearish count as we
have a clear B wave
Currently on C wave (looking for our 5 subwaves)
Using fib extension from AB and subwaves,
my prediction for C wave is roughly $6200-$6500
My prediction of C wave (SW 5) also has confluence:
1) An extension of 100% from Waves A+B for C
2) An extension of 261% from Subwaves 1+2 for 5
C SUBWAVES:
W3 looking to bounce around the 161% level
W4 looking to hit around the 38-50% range
W5 looking to hit roughly the 261% level
We are currently in an ABC correction of the previous 5 wave structure.
We have confirmed the bearish count as we
have a clear B wave
Currently on C wave (looking for our 5 subwaves)
Using fib extension from AB and subwaves,
my prediction for C wave is roughly $6200-$6500
My prediction of C wave (SW 5) also has confluence:
1) An extension of 100% from Waves A+B for C
2) An extension of 261% from Subwaves 1+2 for 5
C SUBWAVES:
W3 looking to bounce around the 161% level
W4 looking to hit around the 38-50% range
W5 looking to hit roughly the 261% level
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