BTC - an idea
2024-12-30
Category: None

I believe BTC is in one of the last wave 4's of this cycle right now.  It impulsed down from the high of 17 Dec to bottom 20 Dec.  Following that impulse it's been in a choppy sideways ABC/flat correction presently running in a downward channel finishing an ABCDE to approximately 91-92K ish probably in the next few days.

That would complete the B wave of the larger ABC where it will rise back up to resistance area of around 99k ish approaching but not getting to the red meridian line of the daily pitchfork.  Then in the last leg of the flat it'll impulse down to the 1 to 1 ratio of around 84.3k.

As of now the daily RSI does not look like it's created a defined bottom or a divergence of any kind so a move like this could do so confirming a bottom.

That'll complete the wave 4 and from there it's off to the races in a wave 5 to 130-150k before next wave 4 kicks.

My thoughts, not financial advice Oklah.  Cheers

Happy New Years to you all.