BTC Macro Wave 4: Short to 6400 or 4500?

On the left is the entire history of Bitcoin. Overlaid is a 5 wave Elliott Wave impulse. It is bullish, obviously. I will clearly define each wave of the 5 wave impulse, and hypothesize about what lies ahead.

Wave 1: 2011-2013, the first bull run in Bitcoin’s history

Wave 2: 2013-2015, the first bear market that acted as accumulation for the massive Wave 3

Wave 3: 2015-2017, the bull run that defined Bitcoin; peaking around 20k

Wave 4: 2018-2020, the bear market following the Crash of 2018.

Wave 5: 2020-2022? The expected bull run following the 2020 Halving

Let’s return to Wave 4. As noted by the chart, we are not finished yet. Historically, a period of accumulation precedes a bull run. Since December 2018 we have experienced higher lows and lower highs. In other words, we are “pinching” into a tight range. Imagine condensing the air of a balloon into a smaller volume… It wants to expand. That’s what is going on here. So this begs the question: where is the pinch point?

The pinch point of Wave 4, that serves as accumulation for Wave 5, is where an accumulative trend ends. The purple trend line support from the peak of Wave 1, and the yellow trend line resistance from the peak of Wave 3 create the bounds of a Horizontal Corrective Triangle that is magnified on the right hand chart. This type of triangle is unique to corrective waves, such as W2 & W4 of a 5 Wave impulse.

By now you are wondering, where the hell is bottom of W4? We want to start this W5 bull run already. Look over the left hand chart. From the peak of W1, two trend line supports (purple & red) can be drawn that touch various major support areas. For that reason they both carry equal weight.

Target 1:
The purple trend line support. The yellow trend line that we are about to tap (Wave D of the corrective W4), which extends from the peak of Wave 3, acts as major resistance. If we fail to break this resistance, then we will correct to the PURPLE LINE @ 6400 (Wave E of corrective Wave 4).

Target 2:
The red trend line support. Again, if we fail to break the resistance of the yellow trend line resistance from Wave 3 (Wave D of Wave 4), AND smash through the purple trend line support, then the next major trend line support is the RED LINE @ 4500 (Wave E of Wave 4).

Regardless of the absolute bottom of Wave 4, we are going to the moon for the 2020 Bull Run!

EASTER EGG: The URL attached is an image of the major phases of each 4 year cycle, from halving to halving