RE: Bitcoin (BTC) Morning Update: Be on the Lookout for This Potential!!
I believe @haejin is correct about his long term view of bitcoin dropping to around $4k
The graph above shows a major crash back in 2014 around the same months as now and it is very similar to the crash we are having now
(My wave counting might be off but same destination either way)
Here is current crash with what is expected to happen similar to the crash in 2014. History tends to repeat itself.
The difference seems to be this crash is happening a lot faster than the one in 2014 but that makes sense consider bitcoin is a lot more popular now than it was then.
Meaning this correction shouldn’t last as long. And then after this final lower low, we should see higher highs of $20k+ in the months to come.
We will just have to wait and see what happens, be prepared for anything.
Thank you Haejin, I learned everything about EW from your tutorials and they are priceless, and your daily updates calm my storm when things start acting up.
It's great to see the comparison, thank you.
As much as we would all love 4K BTC, I do see some fundamental differences between the two senerios. Mainly with volume confirmation and the inverted H&S pattern that was absent in 2014.