Ok, so the drop in BTC also took me by surprise. In my previous chart
I saw two possible scenarios for BTC. BTC took the dump scenario, however, the drop was more massive than I anticipated. It went below the ma20. What does that mean now for the future price development of BTC.
Well, that means that this is a larger corrective ABCDE structure in wave 4, which will take longer to resolve than if it had just dropped to ma20 (around 9200 at that time).
I see a bull flag on the timefram of months, probably ending sometime in summer this year, with a following wave 5 rally towards 100K towards autumn, which will mark the end of this BTC hype cycle. After that, I suppose we will see a bearmarket until the halving 2020.
Well, that means that this is a larger corrective ABCDE structure in wave 4, which will take longer to resolve than if it had just dropped to ma20 (around 9200 at that time).
I see a bull flag on the timefram of months, probably ending sometime in summer this year, with a following wave 5 rally towards 100K towards autumn, which will mark the end of this BTC hype cycle. After that, I suppose we will see a bearmarket until the halving 2020.