Let's talk about the last crypto cycle. The bear market since November 15th is in a long term wave I II III IV V. We had to be able to determine a IV with an ABC pattern otherwise we would double bottom at 71€ with a V at the same level as the III. Hopefully, we could end the B wave and start for a brand new C. We have 4 Take Profits. The targets for a C are 61.8%, 100%, 123% and 161.8% fibonacci. In the last pattern, we can calculate the 3 at 161.8%, 200%, 261.8% and 423.6% fibonacci. 161.8% seems to be a good target for a 3 at around 135€ and is reasonable because of investors fear. If we apply a 4 at 38.2% fibonacci, then we might have a last 5 at around 100% (double top at 140€), 161.8% (155€) and 261.8% fibonacci. 161.8% (155€) for a 5 coincide perfectly with the second Take Profit.
In the long term, we can determine a V at 261.8% fibonacci at around 30€ by the middle to the end of 2019.
Sell STOP : 95€.
In the long term, we can determine a V at 261.8% fibonacci at around 30€ by the middle to the end of 2019.
Sell STOP : 95€.
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