This is the secret chart that hedge funds and big institutions are watching very closely.

Blue wave 2 was a flat pattern and blue wave 4 is most likely a double flat pattern. This is perfect wave alternation in this wave decree which increases the probability.

If you zoom in on the chart, you will notice that after wave b, BTC dropped 162% the length of a, which means it was a very technical (probably driven by bots) correction. If the second leg down does that again, the 162% is located at $18500.

$18500 perfectly coincides with the 200 week EMA at the beginning of September.

It does not have to drop as low, but it could. $26k would be enough if buyers go crazy and can't wait to get in (100% projection, not shown in the chart).

If in doubt, zoom out. LONGTERM VIEW:

Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.

Please consider leaving a comment, like or rehive, if this post entertained you or helped you see things differently...

Have a nice day :-)

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