What if BTC is still in Wave 4?
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• Since Apr’21, BTCUSD has been consolidating in a range.
• Wave (2) was relatively clean and simple. Wave (4) is thus likely to unfold as a more complex and frustrating correction.
• Dubious speculation: the 69K top might be the end of the B Wave in a running flat correction, and we are still in the C Wave, (4) in the larger wave count, which will bottom at around a weekly close of 35K by mid-Mar’22. OBV corroborates with this possibility.
• If so, then assuming Wave (5) starts mid-Mar’22, and reflects the strength and duration of Wave (1), then we can expect BTCUSD to close a weekly at approximately 125K end-Oct’22.
• We should pay more attention to the charts as it nears 35K.
• Wave (2) was relatively clean and simple. Wave (4) is thus likely to unfold as a more complex and frustrating correction.
• Dubious speculation: the 69K top might be the end of the B Wave in a running flat correction, and we are still in the C Wave, (4) in the larger wave count, which will bottom at around a weekly close of 35K by mid-Mar’22. OBV corroborates with this possibility.
• If so, then assuming Wave (5) starts mid-Mar’22, and reflects the strength and duration of Wave (1), then we can expect BTCUSD to close a weekly at approximately 125K end-Oct’22.
• We should pay more attention to the charts as it nears 35K.
Nota
It's coming. Keep your dry powder ready...Nota
Even clearer on the 2-day line chart.Nota
But let's be patient. This will be frustrating, and this is BTC that we are looking at. Keep calm and maintain mental frame. We should be ready for such fluctuations after these years :)Nota
Daily (iv) forming at the moment. Waiting for the dump. Let's get this over and done with. This (4) has been long enough.Nota
Let's try to close the weekly at ~34.6K. Let there be blood.Nota
It seems Wave 4 is not over yet. One more low to *at least* test resistance at 34K.
Penafian
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