Bitcoin Wave 5 Forming - Possible Uptrend to 65k-70k
Given these assumptions about wave 5, all three possibilities arrive between 65k and 70k as final target.
"The three ways to forecast wave 5. First, wave 5 is inverse 123.6 – 161.8% retracement of wave 4. Second, wave 5 is equal to wave 1. Third, wave 5 is 61.8% of wave 1-3'
This assumes the correction is completed, but it was significantly quicker/shorter correction than the previous two found in this current bull run (reference below, this one is about 50% shorter duration but does land firmly in the median of the others).
This is invalidated if BTC breaks from its channel to resume further corrections.
"The three ways to forecast wave 5. First, wave 5 is inverse 123.6 – 161.8% retracement of wave 4. Second, wave 5 is equal to wave 1. Third, wave 5 is 61.8% of wave 1-3'
This assumes the correction is completed, but it was significantly quicker/shorter correction than the previous two found in this current bull run (reference below, this one is about 50% shorter duration but does land firmly in the median of the others).
This is invalidated if BTC breaks from its channel to resume further corrections.
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