1-2-3-4-5
In the 2 charts below, we see perfect wave structure. This gives me confidence in the months and and years (couple of years) ahead.
The first chart shows that we've exited an expanding triangle. The target is the distance of the widest part of the triangle where the price exits the triangle. When the price exits the triangle the distance is equal to the widest part of the triangle. In this case 6600 USD. The triangle has 5 waves where the 5th wave is subordinated.
The second chart is the channel with the 5 waves. Generally the target for the next pivot point is around the previous wave 4 area. In this case it's around 5000 USD. Another indication I'm confident in this structure and the time ahead is the fact that we exited a corrective wave count ABC from December 2017 to December 2018 as well as a 5 wave wedge ending triangle to complete that wave structure.
The wave structure below is as perfect as you can get for an impulse wave.
Then next pivot doesn't necessarily have to hit the previous wave 4 area. According to the rules of Elliott Wave this is wave 1 of larger degree, so the next wave is wave 2 and can't go below the December 2018 low. If the price would go below that then my count is wrong and would have to wait for some other pattern to unflold
As said earlier........ this is as perfect as wave structure gets. This gives me high confidence that Bitcoin is going to be going to new highs in the years ahead.
All data and information provided is for informational purposes only. Trend Wizard makes no representations as to accuracy, completeness, currentness, suitability, or validity of any information in this post and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis. I document this stuff for personal reasons as a log and share with the community...... only because I'm a nice person.
So in ending........ Use critical thinking and think for yourself.
Nice work
My target at 6200$ is finished and now the 7000$ is comming closer😆
I should have said give or take a hundred. 6200 is close too unless your trading every hour, then that's different. I look at the larger swings.
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