Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: MUGNIA on November 20, 2020, 02:34:49 PM
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The bitcoin (BTC) price has been increasing in what looks like a bullish impulse since the beginning of March.
The price is likely in the fifth and final wave of the impulse and should reach a top in the near future, if it has not already done so.
In this article, waves will be labeled as follows:
- Cycle Wave – White
- Wave – Orange
- Sub-wave – Blue
- Minor sub-wave – black
Bitcoin’s Long-Term Count
The bitcoin (BTC) price likely began a bullish five-wave formation (orange) once it reached a low on March 13. The price could be in the fifth and final wave of the impulse, which is a part of a longer-term C cycle wave (white).
Notice the parabolic rate of increase since the wave began in September. If the count is correct, the most likely target for the top of the move would be between $20,330 and 21,168. The target is found by:
- Projecting the 1.61 length of cycle wave A (white)
- The 4.61 Fib extension of wave 1 (orange)
- External Fib retracement of waves 1-3 (black)
(https://s32659.pcdn.co/wp-content/uploads/2020/11/btc1-lead2-nov19-1536x839.png.webp)
more : https://beincrypto.com/bitcoins-wave-count-could-help-determine-the-top/