BTC EOY Prediction

19 de out. de 2021

BTCUSD

Sharing my thoughts on how I think the crypto bull run will finish. I believe that we are currently in wave 3 of the final impulsive wave for BTC. In terms of the entire market cycle we are in wave 5, but we are completing a wave 3 within wave 5. I expect that the bullish momentum will carry us past the current ATH of roughly 65k until we hit 72k to finish wave 3(sometime in the end of this month).

Then I expect a wave 4 correction taking us back down to backtest the previous ATH at 65k (some wicks below) before completing a wave 5 that could take us anywhere between 82k-85k. It is possible that we will have an extended wave 5 reaching towards 100k but I don't think the volume profile supports this.

Once BTC tops I expect there to be a deep A-B-C correction with the A-wave coming down near the highs set in early September. Then a "return to normal" B leg for BTC comes and the Altcoin Mkt cap gets extremely parabolic. This will likely occur near the start of the new year before BTC finishes its retrace to the .702 retracement level and then rolls over to complete a C leg below 40k to begin the bear market.