Bitcoin Liquid IndexPanjang
Harmonics do work on BTC
I tried the harmonic EW on makro BTC picture and found some pretty consistent patterns.
For exaple: The third wave of last wave C in bull markets tend to be very over-extended and stall around the 4.618 extension level and 0.236 level on the fib channel (which I mainly use as parallel trendlines but it is interesting nonetheless).
Both Bull and Bear markets develop in three waves.
It takes about 650-800 days to complete the Bull market.
The last wave C tends to extend to extreme levels (last two bull markets: 46.981 and 29.036).
If those patterns are to hold true, this rally could take this asset up to $325 000 by early December.
Notice, that the current correction is not finished yet...
For exaple: The third wave of last wave C in bull markets tend to be very over-extended and stall around the 4.618 extension level and 0.236 level on the fib channel (which I mainly use as parallel trendlines but it is interesting nonetheless).
Both Bull and Bear markets develop in three waves.
It takes about 650-800 days to complete the Bull market.
The last wave C tends to extend to extreme levels (last two bull markets: 46.981 and 29.036).
If those patterns are to hold true, this rally could take this asset up to $325 000 by early December.
Notice, that the current correction is not finished yet...
Penafian
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