BTS/BTC Bearish 3-Drives/Wolfe Wave/ Retest of Trend
BTS/BTC is potentially showing a Bearish 3-Drives or Bearish Wolfe Wave pattern, although the ratios aren't perfect they are quite close to 1.21 retracement. BTS might potentially go a little higher to make the ratios the same at 1.18 but otherwise I think that it will drop to around 0.00001236 BTC and retest the current bottom of the range it's in.
Left is a zoom in of right.
Left is a zoom in of right.
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BTS mooned. Quick hacked together rough harmonic patterns are no substitute for actual Elliott Wave analysis. Don't be lazy like me :P.
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Maybe this still could work as just a Wolfe Wave. We''ll see if the target price of 1236 sats is reached. Numbering I've added is Wolfe Wave numbering not Elliott Wave.
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I think a major event might happen to centralized exchanges, making the use case for DEXs like BTS strong, causing the major reversal, possibly at 1236 sats, but maybe not yet and instead in a month's time
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Still on track to hit 1236 right now
It might get pushed to a nicer round number of 1250 assuming this bounce slows us enough.
It might get pushed to a nicer round number of 1250 assuming this bounce slows us enough.
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Slower than I thought, but still heading in the right direction. The slowdown puts the target lower now at 1200.
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How things are currently looking...
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That worked well, updated targets are... 900 and 2050
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Interestingly the Wolfe wave i used for the first targets extends to my new target if I draw the arrow following the trend, it also will support an AB=CD, 3-drives, fractal/pattern repetition from a small cycle on the 20th, and will approximatley touch the bottom of the range and base support - feel fairly confident about this.
