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BITCOIN wave analysis

COINBASE:BTCUSD   Bitcoin / Đô la
Here is my BTCUSD wave analysis.
Looks like BTC is performing a big (A)-(B)-(C) correction pattern.
Now btc forms bearish wave (C), which should have a 1-2-3-4-5 structure.
wave 2 is expected to form a-b-c pattern and reach next targets: 12395, 13892 and 16315. (fibo extensions of blue wave a)

After that big fall should unfold. sooner or later.
Target 1734 $ is an 1.618 extension of (A) wave.
Daily RSI 14 is under 50 level.
It's log scale chart.
Wave c should not extend over wave (B) end - 17439 level. it is a stop loss for this structure.

BTC is like Amazon in early 00'.
Amazon shares lost 95% of its peak value after dotcom boom came to its end. Bubble burst
and price droped from 113$ to 5.5$ per share. now its price is 1400 $.
I expect BITCOIN to loss about 90% of its peak value.
Đóng lệnh: đạt mục tiêu: 1st target: 7643$100% extension of wave (A) is reached.
7598 is 61.8% retracement of 0-19891.
price reached 1st target and bounced away, increasing by 18% from today's low.
BTC dropped 32.8% since I posted a short idea on jan29.
price may continue cruising toward 1740 level after forming a reasonable correction pattern.
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BTC already lost 90% of its value before, several times, but the public perception, demand, hype, liquidity, general presence is completely different now. The supply is also mind-bogglingly limited. I don't see why it should correct to the $1000 level, that's a little too much. People will buy it up long before that. I could possibly see 6-7K
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OleksandrSnitko devilninja777
@devilninja777, supply.
U forget about supply provided by those, who bought bitcoin and/or other crypto currencies with only one purpose: to sell it with higher price.
Not to use it as a currency but to trade it making use of price change.
In panic of price fall, buyers will become sellers and drive price lower and lower.
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If Tethers USDT gets shut down by US gov for using the USD in their name, this could very well be in the cards. They did it to the Liberty dollar company, the Feds are salivating at a bust this big.

New big institutional money isn’t coming into BTC, they’re creating their own projects.
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@bmgbmg, new big institutional money isn't coming into BTC? wtf is wall street doing?
Jesus some of you guys are clueless.
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@kitkat16, no-one with proper education will invest in security with 163% risk.
To compare with smth: apple's shares risk is 13,5%. (5month)
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Funniest TA I’ve seen yet! You made my day! Thanks
+5 Phản hồi
@Moum413, u should be one of that "investors", who "invested" in bitcoin this winter, am I right?
Bitcoin 5 month CV (risk) is 163%.
to compare with smth: Apple's shares 5m risk is 13.5%.
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+1 Phản hồi
@Moum413, smth funny?
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chasells OleksandrSnitko
@OleksandrSnitko, Oh shit! called out?
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