Found that i should make daily btc predictions again. For me it is a way of doing something on Steemit instead of letting the account rot away in uselessness.
Plus it is interesting to look back at what i wrote once ago and see how my brew of technical analysis changed over time.
I do not describe everything in depth. First of all it would be too much to read and a turn off. I would have to write a book if i wanted to cover everything which led to the results i share here. Friendly reminder to myself when you read this next year: write that book already ;)
Although 1.618 times the distance from the beginning of a wave 1 until the end of a wave 3 equals the end of wave 5 is taught to be for progressing waves, it often works for regressions too. That is how i made the projections of the dotted lines.
First a look at the recent days.
The dotted green line shows where i expect the price next. Which is around 6550.
On a larger scale a projection for the orange dimension. The dotted orange line is where i expect btc to fall to, after it is done with the dotted green line: around 5600. Then it should bounce upwards. How high i cannot estimate yet.
Lastly an even broader perspective for blue and pink scales. I see btc around 4200 currently before a bull market is possible again.
summary:
The upper dotted pink line which i did not mention yet was almost touched. Thats why i see a completed pink trend section ending there. Therefore my assumption that a new pink downtrending trend section ( which cannot be drawn yet since it is not completed ) has just made its wave 3.
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