Before I begin, I want to make it clear that this is a simple price prediction based on fibs and assuming 2900 will be the bottom of this drop.
The study is based on the market cycle and Fib extensions showing BTC's love affair with 4.23 Fib.
Comparison with previous market structure's timeline
1. 1st Bullish Rally ($4 to $1150) lasted for 24 months.
2. 1st Major Downtrend lasted for 13 months
3. Consolidation/Recovery lasted for 12 months
1. 2nd Bullish Rally ($292 to $20000) lasted for 24 months too
2. Current Downtrend -> 13 months? Already been 11 months. Finish by Feb, 2019
3. Consolidation/Recovery -> 12 months? Feb 2020
1. 3rd Bullish Rally (4k to 70k) by Feb 2022
The study is based on the market cycle and Fib extensions showing BTC's love affair with 4.23 Fib.
Comparison with previous market structure's timeline
1. 1st Bullish Rally ($4 to $1150) lasted for 24 months.
2. 1st Major Downtrend lasted for 13 months
3. Consolidation/Recovery lasted for 12 months
1. 2nd Bullish Rally ($292 to $20000) lasted for 24 months too
2. Current Downtrend -> 13 months? Already been 11 months. Finish by Feb, 2019
3. Consolidation/Recovery -> 12 months? Feb 2020
1. 3rd Bullish Rally (4k to 70k) by Feb 2022
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