Tuesday 26 July 2022


 Hi Traders,

After a small retracement up to 24-25000 Bitcoin (now at 23330) could be staging a sell off that will ultimately take it to 12000. However, this should be the last major dive.


Bitcoin is soon to complete a major a-b-c wave started in Nov 2021 (see  the weekly chart)Note the targets: the three blue horizontal lines at 9172, 11888 and 14769. Bitcoin should land in that area.

The daily chart confirms the downtrend which will complete major wave C by  displaying four medium waves 1-2-3-4 - out of five - and four even smaller waves 1-2-3-4 - out of five.

Consequently, the expected new downtrend - called minor wave 5 - will also complete medium wave 5 as well as major wave C.

The 4-hours chart shows the a-b-c pattern which characterizes the typical retracement up of wave 4. That pattern should soon be followed by wave 5 downward (not displayed).

Bitcoin monthly. Click to enlarge

Bitcoin daily. Click to enlarge

Bitcoin 4-hours. Click to enlarge

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