Towards a sharp drop in Bitcoin ?

Bitcoin climbed from $15500 to $31500 on an impulsive cycle of 5 sub-waves, which could constitute wave I.



Since the top, there has been a consolidation that seems to correspond to a corrective cycle in ABC and which could eventually constitute a wave II.

Sub-wave B could soon come to an end, and sub-wave C could follow with a sharp decline.



The end of this wave II could be between $17500 and $18400 :



. This zone corresponds to the objective of the blue bearish diamond currently being formed.



. A possible triple top is forming, giving the same objective.



. If we reach C= 1.618xA, we reach the same objective.



. Finally, an overlap corresponding to wave II = 0.886 x wave II would be quite standard.