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Part II :
The chart shows the daily and weekly lines of Bitcoin , with the daily trend on the chart above and the weekly line below.
Let's start with the daily line, has now verified my February proposed B-wave trend, assuming that here is a double-headed trend, theoretically double-headed adjustment target is as follows:
Upper limit:
magnitude 13868-6430=7438, target bit 6430-7438=-1008
Lower limit:
magnitude 10522-6430=4092, target 6430-4092=2338
After seeing it, you must feel unacceptable and wonder if I'm wrong. But it's true, according to the formula, and that's it. By the two-headed standard, the theoretical target is between $2,338 and -$1008.
Of course, this is only a theoretical value, in reality of course can not fall to negative values, so most markets eventually use time for space, to solve the problem.
If we follow the abc trend, then the calculation is as follows:
a wave length: 13868-6430= 7438
c-wave: upper limit 10522-7438=3084
lower limit 10522-7438 x 1.618=-1512
There is also a negative value. Even the upper limit now looks like there's room for a $2,000 decline.
The m head of the daily line has been confirmed, now the focus should be on whether the neck line of $6430 can be recovered , that is, if the rebound can not break through $6430, the market will continue to swing down, confirmthe target of $3,084.
Next we take a look at the week line, this is the abc trend I mentioned in the super B wave I described may2019, if we use the same algorithm to draw the following:
Both heads (provided they fall below the neckline of $3128) and abc three waves, the end result will be negative (no show process). Of course I don't think Bitcoin can have a negative value. So how do we tell where to fall and how much we fall? To tell you the truth, the technology I have is not enough to judge accurately, but logically, space-for-time is generally accepted by the market for technical analysis methods. So I think in the end, even if Bitcoin doesn't fall to 0, it's going to take a relatively long time.