WARNING: BTC will drop to 40-42k PITCHFORK base & continue W5
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BTC respecting the diff levels of pitchfork I plotted using Oct to Dec 2020 pivots, w overhang in April 2021 due to euphoria right before the crash to 29k. Fibonacci from recent top of 69k, it is now chopping down nearing the 61.8% zone. If the short-term downtrend continues, price will drop to 42k which coincides w the lower pitchfork blue line. Btw I measured the downside fr blue Head & Shoulder also at around 42k.
Bullish scenario if price reverses from 46k zone like in the past respecting the pitchfork green line. Whichever scenario, BTC will continue wave 5 pausing at the bigger red H&S neckline at 75k before targeting the red H&S height of 110k b/w 2Q to 3Q of 2022. THEN ABC CRASH follows later in 2022 up to 2023.
BTC respecting the diff levels of pitchfork I plotted using Oct to Dec 2020 pivots, w overhang in April 2021 due to euphoria right before the crash to 29k. Fibonacci from recent top of 69k, it is now chopping down nearing the 61.8% zone. If the short-term downtrend continues, price will drop to 42k which coincides w the lower pitchfork blue line. Btw I measured the downside fr blue Head & Shoulder also at around 42k.
Bullish scenario if price reverses from 46k zone like in the past respecting the pitchfork green line. Whichever scenario, BTC will continue wave 5 pausing at the bigger red H&S neckline at 75k before targeting the red H&S height of 110k b/w 2Q to 3Q of 2022. THEN ABC CRASH follows later in 2022 up to 2023.